Question

In: Economics

a) Identify and list the “real” values of the 4 spending components of GDP for year...

a) Identify and list the “real” values of the 4 spending components of GDP for year 2019 from Table 3 (Gross Domestic Product: Level and Change) based on the information provided in the following link: https://www.bea.gov/sites/default/files/2020-09/gdp2q20_3rd_0.pdf

b) Calculate the share/portion (%) of C, I, G and X in GDP. Please show your calculations.

Solutions

Expert Solution

(a) The real values of the 4 spending components of GDP for the year 2019 from Table 3 is identified as follows.

The highlighted column has been considered

(b) The share of the components are calculated below. The calculated shared is shown in first table, whereas the second table shows the formula view of the calculations.

Rahul Sunny answered 2 years ago
Next > < Previous

Related Solutions

List and briefly describe the four spending components of GDP.
List and briefly describe the four spending components of GDP.
What are the four spending components of GDP? Include examples.
What are the four spending components of GDP? Include examples.
what the most recent estimate for real GDP and list each of its components: C (Personal...
what the most recent estimate for real GDP and list each of its components: C (Personal consumption expenditures) =________________, I (Gross private domestic investment)=_________________, G (government consumption expenditures and gross investment)=_____________, NX (Net exports of goods and services)=______________. what is happening in the US right now. Why does consumer spending tend to be considered a stable portion of GDP, when compared to investment spending?
1. Fill in the blank. The real GDP for a given year values current year output...
1. Fill in the blank. The real GDP for a given year values current year output at _____ year prices. Group of answer choices base current 2. Which of the following values for the GDP deflator would imply that the price level is higher in the current year than in the base year? 90 110 100 3. Which of the following values for the GDP deflator would imply that the price level in the current year equals the price level...
a) Real GDP is currently $4,500 billion, and potential GDP is $4,600 billion. If government spending...
a) Real GDP is currently $4,500 billion, and potential GDP is $4,600 billion. If government spending increases by $35 billion, what does the multiplier equal to? Show the effect the change will have on macroeconomic equilibrium. b) By how much does taxes have to change to create the same effect?
list and discuss in detail the components of GDP in general
list and discuss in detail the components of GDP in general
Identify the effect of each of the following circumstances on US GDP and on the components of GDP?
Identify the effect of each of the following circumstances on US GDP and on the components of GDP? a. Ann purchases a Ford tractor to be used on the farm  b. Reed receives a social security check  c. Amit purchases a shirt which is made in India  d. The US Navy send their troops to work overseas. 
Complete the table. Round your calculations for nominal GDP, real GDP, and GDP deflator values to...
Complete the table. Round your calculations for nominal GDP, real GDP, and GDP deflator values to two decimals and rate calculations to three decimals. Year Nominal GDP Real GDP GDP Deflator Inflation Rate 1 1760.00 90.01 2 2000.00 0.111 3 2300.00 105.60 4 2410.00 2222.22 5 2327.44 112.57
Is the relationship between changes in spending and changes in real GDP in the multiplier effect...
Is the relationship between changes in spending and changes in real GDP in the multiplier effect a direct (positive) relationship or is it an inverse (negative) relationship? How does the size of the multiplier relate to the size of the MPC? The MPS? What is the logic of the multiplier-MPC relationship?  (answer in your own words)
Is the relationship between changes in spending and changes in real GDP in the multiplier effect...
Is the relationship between changes in spending and changes in real GDP in the multiplier effect a direct (positive) relationship, or is it an inverse (negative) relationship? How does the size of the multiplier relate to the size of the MPC? The MPS? What is the logic of the multiplier-MPC relationship? How does it relate to the economy today?
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT