Question

Assignment Three

Your text has defined a method to calculate GDP as C+I+G+(X-M)

Go to the US Department of Commerce's Bureau of Economic Analysis website located at http://www.bea.gov/index.htm. Click on the National GDP for the latest release for data. Use the information provided in the article to identify what the percentage change has been for any three of the variables (C,I,G,X, or M) used to calculate GDP. This assignment is designed for you to figure out how to navigate the website and match the definitions of C, I, G, X and M with data collected by the government. Be sure to provide citations to identify the exact latest release you used. Without this citation, I will not know what release to review when grading your assignment.

Answer 1

National Data

Let us consider the Govt. spending(G) ,which is used to calculate National GDP

Government Current Receipts and Expenditures

[Billions of dollars] Seasonally adjusted at annual rates

Last Revised on: December 21, 2017 - Next Release Date January 26, 2018

In 2015, Govt. Total receipts

in first quarter (Q₁)=5,201.7

in second quarter(Q₂)=5,265.6

in third quarter(Q₃)= 5,260.3

in fourth quarter(Q₄)= 5,413.9

So, From first quarter(Q₁) to fourth quarter(Q₄) , govt. Total receipt decreases by 0.04%

In 2015, Govt. Total expenditures

in first quarter (Q₁)=5,973.7

in second quarter(Q₂)=5,986.4

in third quarter(Q₃)= 6,155.6

in fourth quarter(Q₄)= 6,150.2

So, From first quarter(Q₁) to fourth quarter(Q₄) , govt. total expendituret increases by 0.03%

In 2017, Govt. Total receipts

in first quarter (Q₁)=5,517.0

in second quarter(Q₂)=5,485.5

in third quarter(Q₃)= 5,577.7   

So, From first quarter(Q₁) to third quarter(Q₃) , govt. total receipt increases by 0.01%

In 2015, Govt. Total expenditures

in first quarter (Q₁)=6,427.1

in second quarter(Q₂)=6,404.4

in third quarter(Q₃)= 6,519.8

So, From first quarter(Q₁) to third quarter(Q₃) , govt. total expenditure increases by 0.01%