Go to the Economic Report of the President. https://www.gpo.gov/fdsys/browse/collection.action?collectionCode=ERP

• If the link doesn't work, Google "Economic Report of the President, 2015"
• (Click on 2015)
• Go to the Appendices and find Appendix B, Table B-2
• Click on the PDF tab.
• What was Gross Domestic Product for the fourth quarter of 2014 (Chained dollars)?

Go to bea.gov

• Under "Tools" click on "Interactive Data"
• Under National Data, click on "GDP & Personal Income"
• Click on "Interactive Data Tables"
• Click on Section 2 - Personal Income and Outlays
• Use Table 2.1, Personal Income and its distribution
• You can modify the table to include 2014 information
• What was Disposable Personal Income (DPI) for the fourth quarter of 2014

What percentage of Real GDP is Disposable Personal Income?

Is the economy operating above or below equilibrium? (i.e., are Aggregate Expenditures above or below Aggregate Output?)

What conclusion can you draw from this information and the information found in the table in Chapter 9 (Exhibit 3)?