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ITEM AMOUNT Consumption Expenditures for Services $100 Government purchases of goods and services $60 Taxes $30 Durable Goods Expenditures $52 Gross Investment $50 Social Security

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ITEM AMOUNT Consumption Expenditures for Services $100 Government purchases of goods and services $60 Taxes $30 Durable Goods Expenditures $52 Gross Investment $50 Social Security payments to retirees $20 Nondurable Goods Expenditures $48 Imports $20 Exports $10 (1) (A) How much is PCE? (B) How much is GDP? (C) How much is net exports? (D) Is there a trade deficit or trade surplus? (2) What percentage of GDP are these of these sectors? (A) PCE? (B) Business Investment? (C) (C) Government purchases? 3) (A) The price level in Slippery Rock in 2017 was 115. Calculate the Real GDP for 2017. (B) Real GDP in 2019 was $278. How much was real economic growth during this time

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