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MEASURING UUTPUT AND INCCIME WCIRKSHEET This question examines the expenditures approach to calculating GDP. You will use data on different macroeconomic: expenditures to calculate the

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MEASURING UUTPUT AND INCCIME WCIRKSHEET This question examines the expenditures approach to calculating GDP. You will use data on different macroeconomic: expenditures to calculate the value of nominal GDP, and its four components, in a particular year. Below, you are provided data on macroeconomic expenditures last year in Asartaland: Durable Goods: $25 Imports: $6 Gross Investment: $23 Services: $20 Nondurahle Goods: $18 Depreciation: $8 Exports: $11 Government Purchases: $35 Task 1: Calculate the value of consumption in the economy of Asartaland. [Durables + Nondurahles + Services] Task 2: Calculate the value of net investment in the economy of Asartaland. [Gross Investment - Depreciation = Net Investment] Task 3: What is the value of government purchases in the economy of Asartaland? Task 4: Calculate the value of net exports in the economy of Asartaland. Task 5: Following the expenditures approach, calculate the value of GDP for Asartaland

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