Question
The table below details the composition of an economys GDP by spending category. Category Expenditures (billions of dollars) Fixed business investment $3,500.00 Durable goods $2,550.00
The table below details the composition of an economys GDP by spending category.
| Category | Expenditures (billions of dollars) |
| Fixed business investment | $3,500.00 |
| Durable goods | $2,550.00 |
| Exports | $800.00 |
| Federal government purchases | $1,500.00 |
| New home construction | $1,050.00 |
| Imports | $960.00 |
| Change in inventories | $-300.00 |
| Nondurable goods | $4,650.00 |
| Services | $7,850.00 |
| State and local government purchases | $2,600.00 |
Use the information in the table to calculate the following: a) Consumption: $ billion b) Investment: $ billion c) Government: $ billion d) Net exports: $ billion e) GDP: $ billion
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Financial Accounting Tools For Business Decision Making WileyPLUS NextGen Card Single Semester
Authors: Paul D. Kimmel ,Jerry J. Weygandt ,Donald E. Kieso
10th Edition
1119791022, 978-1119791027
