Question
My question is how do I calculate Nominal GDP and Real GDP utilizing the chart of information that is the first attachment uploaded? I have
My question is how do I calculate Nominal GDP and Real GDP utilizing the chart of information that is the first attachment uploaded? I have included the assignment instructions below as well if needed.
The left columns are nominal GDP (and its components) and the right half represents real GDP (chained 2012 dollars). a) Create the table that contains the following information for the last available quarter. Please note that using the data for previous years and/or previous estimates will produce grade zero for this part of the project. You need this information from both parts of the table 3- (nominal GDP (and its components) from left columns and real GDP (chained 2012 dollars) from the right part of the table 3). Omit the intermediate lines found in Table 3 on the web site. 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%
U Learnin X Fundar X Gross D X Introdu x Data Ex X gap4q2 X x Book2. X Untitled x Econ 2 X Project X (271) N X + X -> C A bea.gov/sites/default/files/2023-03/gap4q22_3rd.pdf G S gap4q22_3rd.pdf 13 / 31 - 100% + 10 March 30, 2023 Table 3. 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 Line period Line 2022 2022' 2021 2022 2021 2022 2022 2022' Q4 Q1 Q2 03 Q4' 04 01 Q2 Q3 04' 03 1 Gross domestic product (GDP) 25,462.7 24,349.1 24,740.5 25,248.5 25,723.9 26,138.0 20,014.1 20,006.2 19,924.1 19,895.3 20,054.7 20,182.5 404.3 159.4 127.8 1 376.2 79.1 36.3 2 2 Personal consumption expenditures 17,357.2 16,518.0 16,874.8 17,261.3 17,542.7 17,749.9 14,130.3 13,981.5 14,028.4 14,099.5 14,178.6 14,214.9 Goods 5,941.3 5,673.7 5,843.2 5,953.6 5,988.6 5,980.0 5,535.9 5,566.7 5,565.7 5,529.6 5,524.5 5,523.6 -26.1 -5.1 -0.9 3 3 A 4 Durable goods 2,185.5 2,101.6 2,183.9 2,181.8 2,195.8 2,180.4 2,259.0 2,233.5 2,275.1 2,259.2 2,254.4 2,247.3 -9.8 -4.8 -7.2 5 Motor vehicles and parts 723.2 695.0 737.1 724.5 713.1 717.8 574.7 573.6 594.7 578.7 559.8 565.5 -39.3 -19.0 5.8 11 Furnishings and durable household equipment 525.7 499.5 516.8 525.1 532.8 528.0 519.4 522.5 518.4 521.0 520.5 -16.1 3.3 -0.4 6 7 Recreational goods and vehicles 645.5 623.6 641.4 640.5 655.4 644.8 900.9 867.9 890.1 893.2 913.7 906.6 54.5 20.5 -7.2 7 8 Other durable goods 291.1 283.5 2886 291.7 294.5 289.7 341.1 338.0 340.2 343.8 345.2 335.1 14.5 1.4 10.2 9 Nondurable goods 3,755.9 3,572.1 3,659.3 3,771.9 3,7927 3,799.6 3,319.6 3,371.7 3,334.1 3,313.5 3,312.7 3,317.9 -16.6 -0.8 52 9 10 Food and beverages purchased for off-premises consumption 1,277.6 1,239.0 1,248.5 1,260.4 1,289.9 1,311.5 1,038.3 1,083.3 1,062.7 1,0353 1,027.6 1,027.6 43.7 -7.6 Clothing and footwear 491.4 472.8 480.5 488.6 498.9 497.8 492.4 490.9 485.1 489.9 496.9 497.7 6.0 70 11 0.8 11 12 Gasoline and other energy goods 492.8 430.6 474.5 541.0 4923 463.6 435.4 450.2 438.4 436.0 432.9 434.3 2.4 -3.1 1.5 12 13 Other nondurable goods 1,494.1 1,429.6 1,455.8 1,481.9 1,511.7 1,526.8 1,324.0 1,314.8 1,315.7 1,322.7 1,327.3 1,330.4 24.7 4.7 3.1 13 14 Services 11,415.8 10,844.3 11,031.6 11,307.7 11,554.1 11,769.9 8,733.5 8,568.2 8,613.0 8,709.6 8,788.4 8,823.2 372.4 78.7 34.8 14 15 Household consumption expenditures (for services) 10,888.7 10,355.6 10,525.4 10,779.2 11,015.6 11,234.5 8,389.1 8,234.9 8,270.4 8,359.0 8,438.7 8,488.4 365.9 79.7 49.7 15 12 16 Housing and utilities 2,996.6 2,829.4 2,896.1 2,958.4 3,027.3 3,104.5 2,171.7 2,149.1 2,165.9 2,170.5 2,169.3 2,180.9 24.9 -1.2 11.5 16 17 Health care 2,725.9 2,650.9 2,673.4 2,684.8 2,7428 2,802.6 2,300.3 2,276.1 2,273.5 2,276.0 2,307.0 2,344.8 68.8 30.9 37.8 17 18 Transportation services 547.3 497.0 506.6 551.6 560.6 570.5 436.3 433.1 431.5 439.0 438.8 435.8 41.1 -0.2 -2.9 18 19 Recreation services 615.4 579.6 590.9 610.3 6220 638.3 482.7 469.0 471.4 481.8 486.0 491.5 47.7 4.3 5.5 19 20 Food services and accommodations 1,253.6 1,159.2 1,178.0 1,247.0 1,277.4 1,312.1 911.8 8794 879.7 913.1 924.5 929.7 81.5 11.4 5.2 20 21 Financial services and insurance 1,316.9 1,312.1 1,309.8 1,309.1 1,320.9 1,327.7 892.4 888.4 884.8 888.9 900.4 895.6 18.3 11.6 4.9 21 22 0.5 22 Other services 1,433.0 1,327.5 1,370.7 1,418.0 1,464.5 1,478.7 1,216.3 1,157 8 1,183.2 1,209.9 1,235.8 1,236.3 94.1 26.0 Final consumption expenditures of nonprofit institutions serving households 527.1 488.6 506.2 528.5 538.5 535.4 348.5 337.9 346.1 353.6 353.3 340.9 7.4 -0.3 -12.4 23 24 Gross output of nonprofit institutions 1,870.3 1,807.0 1,821.2 1,839.1 1,893.4 1,927.4 1,421.2 1,413.7 1,407.4 1,406.9 1,430.8 1,439.9 25.0 23.9 9.1 24 25 Less: Receipts from sales of goods and services by nonprofit 1,343.2 1,318.4 1,315.1 1,310.6 1,355.0 1,392.0 1,075.9 1,080.4 1,064.0 1,054.6 1,080.1 1,105.0 17.3 25.5 24.9 25 13 institutions Apr 2 4:53 0 6Step by Step Solution
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