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In: Economics

1. Use the information in this table to sketch a business cycle and to label a...

1. Use the information in this table to sketch a business cycle and to label a downturn and a recovery.

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2.

(Table) The table that follows shows components of aggregate expenditures. What is GDP according to the expenditure approach? OTn2cCw4u02+ExE4VHhbR5rf1pu2BZeSYqXZJiJT

   What is GDP according to the expenditure approach?

Solutions

Expert Solution

1.

2. According to the expenditure approach, GDP= C+I+G+(X-M) where C=consumption expenditure; I=investment by firms and houses; G=government purchases; X=exports M=imports

GDP= (30+50)+(10+15+5)+10+(20-15)= $125

Rahul Sunny answered 2 years ago
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