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5 December, 06:26

Durable Goods $1,250 Nondurable Goods $2,130 Services $9,000 Fixed Investment $1,800 Changes to Business Inventory $135 Investment in Stocks & Bonds $15,500 Federal Government Purchases $1,800 State/Local Government Purchases $1,700 Transfer Payments $675 Exports from the United States $2,100 Imports into the United States $2,400 Calculate each of the following: C (consumption), I (investment), G (government purchases), and NX (net exports). Calculate total GDP.

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  1. 5 December, 07:16
    0
    Given that,

    Durable Goods = $1,250

    Non-durable Goods = $2,130

    Services = $9,000

    Fixed Investment = $1,800

    Changes to Business Inventory = $135

    Investment in Stocks & Bonds = $15,500

    Federal Government Purchases = $1,800

    State/Local Government Purchases = $1,700

    Transfer Payments = $675

    Exports from the United States = $2,100

    Imports into the United States = $2,400

    (a) Consumption, C = durable goods + non-durable goods + services

    = $1,250 + $2,130 + $9,000

    = $12,380

    (b) Private investment, I = Fixed investment + change in inventory + Investment in stocks/bonds

    = $1,800 + $135 + $15,500

    = $17,435

    (c) Government spending, G = Federal government purchase + state/local government purchase

    = $1,800 + $1,700

    = $3,500

    (d) Net exports = Exports - Imports

    = $2,100 - $2,400

    = - ($300)

    GDP = C + I + G + NX

    = $12,380 + $17,435 + $3,500 + (-$300)

    = $33,015
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