Question
In: Economics
Use a government website (such as BEA.gov, historical data) and complete the data for the components...
Use a government website (such as BEA.gov, historical data) and complete the data for the components of GDP 2010-2017. You should only report data on personal consumption expenditures, gross private domestic investment spending, government purchases, net exports (in a base year). Then, add up all of these components to get the GDP for 2010-2017 in a base year price. In other words, complete the following table.
HINT: A. go to www.bea.gov B. Under U.S. Economic accounts, select GDP C. Under the latest NIPA tables, select interactive NIPA tables D. Choose frequently requested NIPA tables. Please note that every year they change these tables. Finally, select First and Last year. Report the data for the last quarter of each year (fourth quarter).For example, for the year 2013, select the GDP and its components reported for the fourth quarter of this year. Do the same thing for other years and complete the following table.
| 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Consumption | ||||||||
| Investment | ||||||||
| Government purchases | ||||||||
| Gross Domestic Product | ||||||||
Solutions
Expert Solution
The real GDP is the value of all goods and services produced within the economy during a particular period expressed in some base year prices. The GDP has four components: consumption, investment, government, and net export.
The table below gives the s=data for real GDP and its component for the period 2010 to 2017 in billions of 2012 chained dollar. that is the base year is 2012. the numbers are in billions of dollar.
| 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | |
| Q4 | Q4 | Q4 | Q4 | Q4 | Q4 | Q4 | Q4 | |
| Personal consumption expenditures | 10754 | 10885.9 | 11056.9 | 11263.6 | 11687.1 | 12039.7 | 12372.7 | 12706.4 |
| Gross private domestic investment | 2287.4 | 2524.4 | 2624.9 | 2870.1 | 3005.1 | 3056.9 | 3091.7 | 3246 |
| Net exports of goods and services | -574.1 | -579 | -549.8 | -500.9 | -619.9 | -759.3 | -836.7 | -899.2 |
| Government consumption expenditures and gross investment | 3283.3 | 3173.2 | 3107.2 | 3033.4 | 3040.4 | 3107.1 | 3135.6 | 3140.2 |
| Gross domestic product | 15750.6 | 16004.5 | 16239.2 | 16666.2 | 17112.7 | 17444.4 | 17763.3 | 18193.4 |
Rahul Sunny answered 2 years agoRelated Solutions
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