Go to the Bureau of Economic Analysis/National Income Accounts sitehttp://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm.The first thing you will see is the News Release that is reported each month.

Look to the right side of the page for the "Full Release & Tables.". Scroll down from the news release to find the tables. Take a moment to look at all the tables and the variety of information available.

Using Table 3: "Gross Domestic Product and Related Measures" answer questions 1 through 8.

Show your calculations. Use the Current Dollars section. You'll note that the annual total is given in the column, with quarterly breakdowns. You'll have to scroll down for the second part of the table.(Hint: To find the % that any value is of GDP divide that value by GDP and multiply by 100. For instance, if PCE is 8,000 and GDP is 10,000, then PCE is 8/10 x100 or 80% of GDP.)

By using the data in Table 3:

1. Determine the release date of the report you are using.

2. Determine the previous year current dollar value of GDP.

3. Determine the previous year current dollar value of personal consumption.

4. Determine the percentage of previous year Personal Consumption Expenditure (PCE) over GDP.

5. Determine the percentage of previous year Gross Private Domestic Investment over GDP.

6. Determine the percentage of previous year government spending (Government Consumption Expenditures and Gross Investment) over GDP.

7. Determine the percentage of previous year net exports over GDP.

8. Prepare a brief report on your findings.

PART 2:Retrieve the GDP excel spreadsheet.

Part A: Nominal GDP (table 26)

Refer to the nominal GDP by state in table 26, answer the questions below:

1. Determine Selangor's gross domestic product (GDP) for the year of 2018.

2. Determine Selangor's GDP rank among all states.

3. Discuss Selangor's economy using this list.

4. Discuss the information that's not provided by nominal GDP levels.

Part B: Real GDP (table 1)

Refer to the GDP by State at Constant Price (real GDP) in table 1, answer the questions below:

1. When using GDP statistics, it's important to understand the difference between current price data and constant price (inflation adjusted) data. Explain the difference between nominal GDP and real GDP.

2. Determine the real GDP trend of Selangor's economy; grew-or shrank - over time.

3. Compare the nominal GDP with the real GDP chart. In which chart does Selangor's economy appear to grow more quickly?

4. Determine which measure - nominal GDP or real GDP - you think gives a more accurate picture of the growth in Selangor.(explaination)

Part C: GDP Growth Rate (table 2)

Refer to the GDP Growth Rate by state in table 2, answer the questions below:

1. On the real GDP growth table, some states had the fastest annual economic growth. Discuss are the states with the fastest growing economies always the states with the largest nominal GDP?

2. Determine Selangor's real GDP growth rate for 2018.

3. The nation's real annual GDP growth rate for 2018 was 4.8%. Compare your Selangor's economy with the nation's real annual GDP growth rate.

4. Discuss the possible benefits of economic growth.