Question

Components of National Expenditure are given below Defense 662 Durable goods 1,083 Exports 1,662 Federal 979...

Components of National Expenditure are given below
Defense
662
Durable goods
1,083
Exports
1,662
Federal
979
Imports
2,370
Inventory investment
-4
Nondefense
317
Nondurable goods
2,833
Nonresidential fixed investment
1,504
Residential fixed investment
630
Services
5,794
State and local
1,696
Calculate:
1. Consumption
2. Investments
3. Govt. expenditure
4. Net Exports
5. GDP

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Answer #1

Ans- Calculating Consumption=durable goods+nondurable goods+services

Consumption=1083+2833+5794

Consumption= 9710

Calculating investment=residential fixed investment+inventory investment

Investment=630+(-4)

Investment=626.

Calculating government expenditure:

Government expenditure=defense+federal+nondefense+state and local

Government expenditure=662+979+317+1696

Government expenditure=3654

Calculating net exports:-

Net exports= Exports-imports

Net exports=1662-2370

Net exports=-708

GDP=C+I+G+NX

GDP=9710+626+3654+(-708)

GDP=13282

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