п»їMeasuring Countrywide Income -- GDP
For the following items, follow the directions, write the correct answer inside the blank, or perhaps circle the correct answer.
Having applied for a job at the Trade Department's Bureau of Economic Analysis, you are given the following hypothetical data to study ahead of your interview. Figures happen to be total benefit in immeasureable dollars.
Home spending on:
Nondurable goods=$1, 776
Durable goods= $706
Organization spending on plant and equipment= $815
Damage on manufacturing plant equipment= one hundred dollar
Inventory changes= $9
Fresh homes constructed= $397
Existing homes which were destroyed= $123
State and native Government spending on:
Federal Government spending on:
Depreciation of presidency assets= $245
Transfer Payment=$2, 936
A. What is the overall value of consumption spending in this economy? $5, 490
W. What is the entire value of private investment spending in this economy? $1, 221
C. What is the overall value of presidency purchases difficult? $1, 476
D. What is the total value of net exports difficult? $106
At the. Using the expenditure approach, precisely what is GDP in this economy? $8, 293
F. Which items in the desk are not counted as part of the economy's GDP? Damage on stock equipment ($200), existing homes which were ruined ($123), devaluation of government resources ($245) and transfer obligations ($2, 936).
Measuring Countrywide Income -- GDP
Billions of dollars
Consumption of fixed capital 307
Corporate profits 203
Compensation of employees you, 722
Federal government purchases 577
Taxes about production and imports255
Gross private home investment437...