question:

Course: ECON 201

U.S. Bureau of Economic Analysis. (2024, April). Gross Domestic Product, First Quarter 2024 (Advance Estimate). https://www.bea.gov/sites/default/files/2024-04/gdp1q24-adv.pdf

whats the value of Gross domestic product

whats the value ofPersonal consumption expenditure

whats the value ofGross private domestic investment

whats the value ofNet exports of goods and services

whats the value ofGovernment consumption expenditure and gross investment

b) Calculate the percentage of each category in nominal and real GDP

using nominal

personal consumption expenditure /Nominal GDP*100% Gross private domestic investment / Nominal GDP * 100% Net export of goods and services / Nominal GDP *1000% Government consumption expenditure and gross investment /Nominal GDP* 100%

Using Real GDP

Personal consumption expenditure/Real GDP* 100% Gross private domestic Investment /Real*100% Net export of goods and services/Real*100% Government consumption expenditure and gross investment/ Real GDP*100% Present the information as a table

2)

1) Why was the nominal GDP greater than the real GDP? By how much

2) GDP is composed of a number of categories. What category make up the largest portion of GDP? What category makes up the smallest portion of GDP

3) What is gross private domestic investment? Why does gross private domestic investment measure?

4) What is net exports of goods and services? Why is it negative

5) In the left part of the table 3 ( norminal gdp) find the category National defense. How much was it for last quarter? Calculate the percentage of National defense out of gdp

6) Analyz and discuss the significance of the data for this exercise

Please provide detailed table, percentages and explanations. Thank you