ECON 201 7385 Principles of macroeconomics (Data Exercise #1 Assignment)
Use the tables in the screenshot below to calculate the normal GDP and real GDP of the following:
- Gross domestic product
- Personal consumption expenditures
- Gross private domestic investment
- Net exports of goods and services
- Government consumption expenditures and gross investment
The left columns are nominal GDP (and its components) and the right half represents real GDP (chained 2012 dollars)
b) Calculate the percentage (the proportion) of each category in nominal GDP and in real GDP.
Using Nominal GDP:
[Personal consumption expenditures / Nominal GDP]*100%
[Gross private domestic investment / Nominal GDP]*100%
[Net exports of goods and services / Nominal GDP]*100%
[Government consumption expenditures and gross investment/ Nominal GDP]*100%
And using Real GDP:
[Personal consumption expenditures / Real GDP]*100%
[Gross private domestic investment / Real]*100%
[Net exports of goods and services / Real GDP]*100%
[Government consumption expenditures and gross investment/ Real GDP]*100%
Present the information that you received (a) and (b) as table(s) in your project.
Write a report (2 pages double-spaced), which contains an analysis of the results you received.
Hello, Please review these questions and provide answers.
Thank you!
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Sign in gdp3q22_adv 888 Tools 8/9.4 8/9./ 913.1 920.6 158.1 33.5 1.4 20 1,060.9 1, 125.3 1, 159.2 1, 1/8.0 1,24/.0 1,2/2.0 830.2 8/1.5 accommodations Financial services and 874.1 875.4 888.4 884.8 888.9 892.2 32.8 4.0 3.3 21 21 insurance 1,275.0 1,287.0 1,312.1 1,309.8 1,309.1 1,306.7 92.5 26.7 16.3 22 1,273.2 1,311.5 1,327.5 1,370.7 1,418.0 1,452.7 1,122.2 1,151.0 1,157.8 1,183.2 1,209.9 1,226.1 22 Other services 23 Final consumption expenditures of nonprofit institutions serving 528.5 549.1 341.1 334.0 337.9 346.1 353.6 362.0 -58.3 7.5 8.4 23 households 465.5 462.5 488.6 506.2 BE 2 Gross output of nonprofit 12.0 -0.5 16.3 24 1,748.8 1,760.6 1,807.0 1,821.2 1,839.1 1,880.6 1,396.2 1,397.7 1,413.7 1,407.4 1,406.9 1,423.2 institutions 25 Less: Receipts from sales of goods and services by nonprofit 1,283.3 1,298.1 1,318.4 1,315.1 1,310.6 1,331.5 1,058.7 1,068.2 1,080.4 1,064.0 1,054.6 1,061.7 76.1 -9.4 7.1 25 institutions 4,113.5 4,109.1 4,499.2 4,671.0 4,609.9 4,590.2 3,603.0 3,584.1 3,841.8 3,892.5 3,747.0 3,665.2 296.5 -145.5 -81.8 26 9 26 Gross private domestic investment -45.0 27 4,132.6 4,164.3 4,259.2 4,413.6 4,464.6 4,490.1 3,574.6 3,581.1 3,586.2 3,628.6 3,581.9 3,536.9 247.8 46.7 27 Fixed investment 0.5 26.9 28 3,025.0 3,046.3 3,111.8 3,225.0 3,292.2 3,382.3 2,835.4 2,852.2 2,860.2 2,915.0 2,915.5 2,942.4 169.4 28 Nonresidential 477.5 476.6 460.7 455.6 440.4 422.4 -32.8 15.3 -17.9 29 17 29 631.2 633.6 Structures 598.2 599.7 610.3 627.3 -6.5 32.6 30 1,194.0 1,197.3 1,221.2 1,277.8 1,299.5 1,351.9 1,221.8 1,227.1 1,232.0 1,265.7 1,259.1 1,291.7 114.5 30 Equipment 31 Information processing 420.3 441.3 464.2 458.5 470.3 540.4 531.7 556.7 579.0 569.6 583.4 48.0 -9.4 13.8 31 equipment 426.7 256.2 263.0 270.9 266.7 257.8 26.7 4.2 -8.9 32 315.8 318.7 311.4 251.0 V 32 Industrial equipment 277.3 285.6 298.4 224.5 224.4 208.8 208.5 224.0 270.0 222.7 229.2 208.2 206.3 212.1 249.7 30.2 5.8 37.6 33 33 Transportation equipment 241.8 236.4 12.2 .0.1 -5.4 34 Other equipment 265.5 267.0 272.7 289.3 298.3 300.2 236.2 236.0 234.5 241.8 34 1,245.9 1,267.0 101.8 26.3 21.0 35 35 1,232.7 1,249.2 1,280.4 1 1,153.0 1,166.0 1,188.8 1,219.6 Intellectual property products 1,319.9 1,361.4 1,396.8 615.7 630.9 643.2 65.2 15.2 12.2 36 C Software 512.4 520.3 526.5 545.1 558.9 570.2 574.2 582.8 589.7 36 712.1 511.9 516.2 527.3 534.3 541.7 547.7 41.0 7.4 5.9 37 Research and development 629.8 656.4 674.3 693.9 37 636.8 3.8 38 G 38 Entertainment, literary, 86 1 90.9 94.7 0.0 4.8 and artistic originals 90.5 92.1 97.5 100.6 108.7 114.5 80.1 80 9 84.9 1,147.3 1,188.6 1,172.4 1 1, 107.8 719.4 712.2 710.3 704.7 671.0 621.5 69.5 -33.8 49.4 39 39 Residential 1, 107.6 1, 118.0 240.0 257.4 145.4 100.2 -19.4 -48.6 197.6 214.5 110.2 61.9 35.2 -104.4 -48.2 40 .55.2 40 Change in private inventories -19.1 -3.8 9.8 -15.5 -22.9 4.0 -3.3 41 -3. C -19.5 4.5 41 Farm -3.0 -2.0 4.9 -6.6 -9.5 -12.1 -100.0 44.9 42 53.1 244.9 264.1 154.9 112.2 -16.0 -44.8 202.2 223.6 123.6 78.7 30.9 Nonfarm -16.1 1. Real gross domestic income is gross domestic income deflated by the implicit price deflator for gross domestic product. Note. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other prices in the economy, the chained-dollar estimates should not be used to measure the component's relative importance or its contribution to the growth rate of more aggregate series For accurate estimates of the contributions to percent changes in real gross domestic product use table ? 6:51 PM 3 f 11/11/2022 Q SearchSearch Rest X + V X U Login | UMC X U Data Exercis X gap3q22_a X gap3q22_a X G Visit the Bu X [Solved] Vis X G Must have | X C Adobe Acrobat: PDF edit, convert, sign tools | chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.bea.gov/sites/default/files/2022-... 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Gross Domestic Product: Level and Change from Preceding Period--Continues Billions of dollars Billions of chained (2012) dollars Change from preceding Seasonally adjusted at annual rates Seasonally adjusted at annual rates period Line Line 2021 2021 2022 2021 2021 2022 2022 2021 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q2 Q3 23,315.1 23,550.4 24,349.1 24,740.5 25,248.5 25,663.3 19,609.8 19,672.6 20,006.2 19,924.1 19,895.3 20,021.7 1,100.7 -28.8 126.5 1 1 Gross domestic product (GDP) 15,902.6 16,147.3 16,518.0 16,874.8 17,261.3 17,500.3 13,754.1 13,874.4 13,981.5 14,028.4 14,099.5 14,149.0 1,053.4 71.1 49.6 N 2 Personal consumption expenditures -36.1 -16.3 Goods 5,496.5 5,517.1 5,673.7 5,843.2 5,953.6 5,976.6 5,561.9 5,534.6 5,566.7 5,565.7 5,529.6 5,513.4 606.2 2,060.2 2,035.0 2, 101.6 2,183.9 2, 181.8 2,195.8 2,268.8 2,206.0 2,233.5 2,275.1 2,259.2 2,254.4 354.6 15.9 4.8 4 Durable goods 688.7 656.3 695.0 737.1 724.5 714.5 614.0 563.8 573.6 594.7 578.7 560.9 83.7 .15.9 -17.9 5 OUI A Motor vehicles and parts 9 Furnishings and durable 495.0 494.9 499.5 516.8 525.1 533.5 535.4 530.7 522.5 518.4 517.6 521.7 66.5 -0.8 4.1 6 household equipment Recreational goods and 17 603.9 604.5 623.6 641.4 640.5 653.1 846.3 843.8 867.9 890.1 893.2 910.6 141.7 3.1 17.4 7 vehicles Other durable goods 272.6 279.3 283.5 288.6 291.7 294.7 326.6 333.0 338.0 340.2 343.8 345.4 77.4 3.6 1.6 8 3,436.3 3,482.2 3,572.1 3,659.3 3,771.9 3,780.8 3,336.2 3,365.5 3,371.7 3,334.1 3,313.5 3,302.1 269.4 -20.7 -11.3 9 A Nondurable goods 1 Food and beverages purchased 1,205.0 1,211.7 1,239.0 1,248.5 1,260.4 1,286.9 1,082.0 1,081.8 1,083.3 1,062.7 1,035.3 1,025.2 38.9 -27.4 -10.0 10 for off-premises consumption V Clothing and footwear 461.3 471.2 472.8 480.5 488.6 497.6 486.4 495.0 490.9 485.1 489.9 495.6 100.6 4.8 5.7 11 11 488.4 433.0 445.9 450.2 438.4 436.0 429.4 45.1 -2.4 -6.6 12 12 Gasoline and other energy goods 69.4 387.6 430.6 474.5 541.0 7.0 1.4 13 13 Other nondurable goods 1,400.5 1,411.7 1,429.6 1,455.8 1,481.9 1,507.9 1,299.3 1,310.1 1,314.8 1,315.7 1,322.7 1,324.0 93.7 10,406.1 10,630.2 10,844.3 11,031.6 11,307.7 11,523.8 8,361.1 8,494.3 8,568.2 8,613.0 8,709.6 8,769.8 498.1 96.7 60.2 14 C 14 Services 15 Household consumption 9,940.5 10, 167.6 10,355.6 10,525.4 10,779.2 10,974.7 8,023.2 8,164.9 8,234.9 8,270.4 8,359.0 8,409.9 562.4 88.6 50.9 15 expenditures (for services) 2,775.4 2,792.4 2,829.4 2,896.1 2,958.4 3,031.4 2,146.7 2,151.7 2,149.1 2,165.9 2,170.5 2,172.1 23.7 4.6 1.6 16 G 1 Housing and utilities 2,583.5 2,615.1 2,650.9 2,673.4 2,684.8 2,724.4 2,231.5 2,254.9 2,276.1 2,273.5 2,276.0 2,292.6 152.5 2.6 16.5 17 17 Health care 6.8 18 18 Transportation services 444.1 484.5 497.0 506.6 551.6 569.6 395.1 425.8 433.1 431.5 439.0 445.7 54.3 7.4 528.5 590.9 610.3 617.9 435.0 452.0 469.0 471.4 481.8 482.8 61.9 10.3 1.1 19 19 Recreation services 551.8 579.6 20 Food services and 1,060.9 1, 125.3 1,159.2 1,178.0 1,247.0 1,272.0 830.2 871.5 879.4 879.7 913.1 920.6 158.1 33.5 7.4 20 accommodations Financial services and 874. 875.4 888.4 884.8 888.9 892.2 32.8 4.0 3.3 21 21 insurance 1,275.0 1,287.0 1,312.1 1,309.8 1,309.1 1,306.7 6:50 PM 3 Q Search 11/11/2022X gap3q22_a X [Solved] Vis X G Must have | X V U Login | UMC X G Visit the Bu X + U Data Exercis X gap3q22_a X Search Rest X C Adobe Acrobat: PDF edit, convert, sign tools | chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.bea.gov/sites/default/files/2022-... 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Gross Domestic Product: Level and Change from Preceding Period--Table Ends Billions of dollars Billions of chained (2012) dollars Change from preceding Seasonally adjusted at annual rates Seasonally adjusted at annual rates period Line Line 2021 2021 2021 2022 2021 2022 2022 2021 22 Q3 23 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 43 Net exports of goods and services -861.7 -889.1 -914.7 -1,116.7 -1,035.6 -901.4 -1,233.4 -1,267.5 -1,297.6 -1,488.7 -1,430.5 -1,274.0 -310.7 58.2 156.6 43 14 Exports 2,539.6 2,553.3 2,733.0 2,811.2 3,038.8 3,060.0 2,366.8 2,338.8 2,465.7 2,436.9 2,516.9 2,603.2 135.1 80.0 86.3 44 Goods 1,741.5 1,751.6 1,878.2 1,940.9 2,134.7 2,135.0 1,728.9 1,701.5 1,793.5 1,760.2 1,824.9 1,898.6 119.2 64.7 73.7 45 45 798.2 801.8 854.9 870.4 904.2 925.1 656.9 654.7 690.3 693.0 709.5 723.9 21.1 16.5 14.3 46 46 Services 3,401.4 3,442.5 3,647.7 3,927.9 4,074.4 3,961.4 3,600.2 3,606.3 3,763.3 3,925.6 3,947.5 3,877.2 445.8 21.8 -70.3 47 47 Imports 398.4 -76.9 48 10 -3.2 48 Goods 2,844.7 2,850.5 3,029.0 3,289.3 3,394.8 3,271.4 3,143.0 3,115.9 3,258.2 3,412.7 3,409.5 3,332.5 49 556.7 592.0 618.7 638.6 679.6 690.0 484.2 510.5 527.5 539.0 560.1 563.4 52.8 21.1 3.2 49 Services 50 Government consumption 17 expenditures and gross 19.6 -13.9 20.3 50 investment 4,160.7 4,183.1 4,246.7 4,311.4 4,412.8 4,474.1 3,426.3 3,421.0 3,412.9 3,393.4 3,379.5 3,399.8 31.6 -11.6 12.1 51 51 Federal 1,609.2 1,595.5 1,612.8 1,613.1 1,622.7 1,656.8 1,390.5 1,371.4 1,371.5 1,353.0 1,341.3 1,353.4 52 National defense 904.0 906.8 904.4 898.7 918.3 935.0 791.3 789.5 778.8 761.7 764.5 773.4 -9.8 2.7 8.9 52 Consumption expenditures 713.0 714.3 710.3 708.4 726.5 742.8 616.5 613.9 603.9 592.8 597.3 606.5 -14.5 4.5 9.2 53 V Gross investment 191.0 192.5 194.1 190.4 191.8 192.3 175. 176.6 176.0 169.9 167.9 167.5 5.1 2.0 -0.4 54 Nondefense 705.1 688.8 708.4 714.4 704.4 721.8 597.0 580.0 590.5 588.9 574.8 578.0 40.4 14.1 3.2 55 533.8 516.3 533.4 535.2 521.8 535.7 443.4 426.1 436.2 433.2 418.9 421.1 41.9 -14.3 2.2 56 C Consumption expenditures Gross investment 171.4 172.5 175.0 179.3 182.6 186.1 153.3 154.0 154.2 155.7 156.2 157.2 -2.3 0.5 1.0 57 -10.6 -2.9 8.7 58 58 State and local 2,551.6 2,587.6 2,633.9 2,698.2 2,790.0 2,817.3 2,037.9 2,050.7 2,042.7 2,040.7 2,037.8 2,046.5 4.6 5.9 59 59 7.4 Consumption expenditures 2,106.9 2, 142.5 2,180.1 2,238.5 2,325.6 2,338.8 1,681.1 1,697.1 1,692.4 1,696.4 1 1,701.0 1,706.9 444.6 445.1 453.8 459.7 464.5 478.5 356.8 353.4 350.2 344.3 336.8 339.6 -18.1 -7.5 2.8 60 60 Gross investment 61 Residual -163.1 -166.1 -159.1 -149.8 -166.2 61 Addenda: 23,444.0 23,683.9 24,473.3 25,017.5 25,571.6 .. 19,718.3 19,784.1 20, 108.2 20,147.2 20,149.9 1,020.2 2.7 . 62 62 Gross domestic income (GDI) ' 1,060.5 13.1 ..'s 63 63 Average of GDP and GDI 23,379.6 23,617.2 24,411.2 24,879.0 25,410.0 .. . 19,664.0 19,728.4 20,057.2 20,035.6 20,022.6 . 23,334.2 23,605.6 24,109.1 24,483.1 25,103.1 25,563.1 19,581.3 19,668.6 19,759.2 19,669.8 19,735.9 19,897.1 1,054.1 66.0 161.2 64 64 Final sales of domestic product Gross domestic purchases 24,176.8 24,439.6 25,263.8 25,857.2 26,284.0 26,564.7 .7 20,774.8 20,870.2 21,221.1 21,297.3 21,208.9 21,197.8 1,359.3 88.4 -11.1 65 65 7:10 PM Q Search D 9 11/11/2022 3X gap3q22_a X Search Rest X G Visit the Bu X [Solved] Vis X G Must have | X + V U Login | UM( X U Data Exercis X gap3q22_a X C Adobe Acrobat: PDF edit, convert, sign tools | chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.bea.gov/sites/default/files/2022-... 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Sign in 54 Gross investment 191.0 192.5 194.1 190.4 191.8 192.3 175.7 176.6 176.0 169.9 167.9 167.5 5.1 -2.0 -0.4 54 55 Nondefense 705.1 688.8 708.4 714.4 704.4 721.8 597.0 580.0 590.5 588.9 574.8 578.0 40.4 -14.1 3.2 55 56 Consumption expenditures 533.8 516.3 533.4 535.2 521.8 535.7 443.4 426.1 436.2 433.2 418.9 421.1 41.9 -14.3 2.2 56 57 Gross investment 171.4 172.5 175.0 179.3 182.6 186.1 153.3 154.0 154.2 155.7 156.2 157.2 -2.3 0.5 1.0 57 58 State and local 2,551.6 2,587.6 2,633.9 2,698.2 2,790.0 2,817.3 2,037.9 2,050.7 2,042.7 2,040.7 2,037.8 2,046.5 -10.6 -2.9 8.7 58 5 Consumption expenditures 2, 106.9 2,142.5 2,180.1 2,238.5 2,325.6 2,338.8 1,681.1 1,697.1 1,692.4 1,696.4 1,701.0 1,706.9 7.4 4.6 5.9 59 60 Gross investment 444.6 445.1 453.8 459.7 464.5 478.5 356.8 353.4 350.2 344.3 336.8 339.6 18.1 7.5 2.8 60 61 Residual -163.1 -166.1 -159.1 -149.8 -166.2 -219.3 . #5.458148549 9454 61 Addenda: 62 Gross domestic income (GDI) ' 23,444.0 23,683.9 24,473.3 25,017.5 25,571.6 ... 19,718.3 19,784.1 20, 108.2 20,147.2 20,149.9 1,020.2 2.7 62 Average of GDP and GDI 23,379.6 23,617.2 24,411.2 24,879.0 25,410.0 ... 19,664.0 19,728.4 20,057.2 20,035.6 20,022.6 . 1,060.5 -13.1 ... 63 Final sales of domestic product 23,334.2 23,605.6 24, 109.1 24,483.1 25,103.1 25,563.1 19,581.3 19,668.6 19,759.2 19,669.8 19,735.9 19,897.1 1,054.1 66.0 161.2 64 24,176.8 24,439.6 25,263.8 25,857.2 26,284.0 26,564.7 20,774.8 20,870.2 21,221.1 21,297.3 21,208.9 21,197.8 1,359.3 -88.4 -11.1 65 10 65 Gross domestic purchases 66 Final sales to domestic purchasers 24, 195.9 24,494.7 25,023.8 25,599.7 26,138.7 26,464.5 20,747.2 20,867.5 20,970.1 21,038.4 21,047.3 21,072.1 1,311.6 8.9 24.8 66 67 Final sales to private domestic 20,035.2 20,311.6 20,777.1 21,288.4 21,725.9 21,990.4 17,328.4 17,455.3 17,567.4 17,656.9 17,680.5 17,684.0 1,301.1 23.6 3.5 67 17 58 Gross domestic product 23,315.1 23,550.4 24,349.1 24,740.5 25,248.5 25,663.3 19,609.8 19,672.6 20,006.2 19,924.1 19,895.3 20,021.7 1,100.7 -28.8 126.5 68 69 Plus: Income receipts from the rest of the world 1,087.0 1, 106.8 1,120.9 1,147.1 1,231.3 . 929.5 940.6 937.1 942.3 990.6 ....' 64.9 48.3 ....; 69 70 Less: Income payments the world 913.9 939.0 939.5 958.4 1,023.3 ..... 781.4 798.1 785.5 7 787.4 823.4 ......... 92.3 36.0 . V 71 Equals: Gross national product 23,488.2 23,718.3 24,530.6 24,9 0.6 24,929.2 25,456.4 ... 19,759.3 19,816.7 20,159.3 20,080.4 20,063.7 .. 1,073.9 16.8 .... 71 72 Net domestic product 19,483.5 19,674.8 20,364.3 20,626.9 21,006.4 21,303.1 16,302.8 16,352.6 16,659.7 16,551.0 16,495.3 16,595.8 1,008.9 -55.7 100.5 72 1. Real gross domestic income is gross domestic income deflated by the implicit price deflator for gross domestic product. C Note. Users are cautioned that particularly for components that exhibit rapid change in prices relative to other prices in the economy, the chained-dollar estimates should not be used to measure the component's relative importance or its contribution to the growth rate of more aggregate series. For accurate estimates of the contributions to percent changes in real gross domestic product, use table 2. Source: U.S. Bureau of Economic Analysis W 7:11 PM Q Search 9 11/11/2022 3
