Question
Visit the Bureau of Economic Analysis website at www.bea.gov. 1. Create the table that contains the following information for the most recent quarter where data
Visit the Bureau of Economic Analysis website at www.bea.gov.
1. Create the table that contains the following information for the most recent quarter where data required for this exercise is available. Gross domestic product Gross national product Net national product (you should calculate it as Gross national product minus Consumption of fixed capital) National income Personal income Personal Disposable Income Personal Savings Present the information that you received in your project. 2. Write a reportwhich contains the analysis of the results you received. In this report consider, but do not be limited to the following: 1. What is the difference between gross domestic product (GDP) and gross national product (GNP)? What is the difference in what GDP measures compared to GNP? 2. Based on the table, what calculations must you make to determine GNP from GDP? 3. What is national income (NI)? What does NI measure? 4. Which was higher in this year, GNP or NI? By how much? 5. What calculations must you make to determine NI from GNP? 6. NI is composed of a number of categories. What category makes up the largest portion of NI? 7. What calculations must you make to determine Personal Income from National Income? 8. What calculations must you make to determine Personal Disposable Income and Personal Savings? 9. Please analyze and discuss the significance of the data that you received for this Data exercise.
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