U.S. Total Exports = $323 Personal Consumption Expenditures U.S. Total Imports $
ID: 1158541 • Letter: U
Question
U.S. Total Exports = $323 Personal Consumption Expenditures U.S. Total Imports $395 Net investment = $399 Depreciation $280 Government Purchases $450 $875 Solve for the following and make sure you show a detail calculation for each ( penalty for not showing calc): substantial a. Net Exports b. GDP IL. Solve for the real GDP of years I and 2 given the following information: (make sure you show a detailed calculation for each) Year Nominal GDP (in billions)Price Index Real GDP 1 S4742.8 80.22 103.222 2 S8790.2 nt rate of years 1 and 2 given the following data: Employed 120,000 204,000 Labor Force 133,000 220,000 YearExplanation / Answer
a) Net exports = Exports - Imports = 323 - 395 = 72
b) GDP = Consumption expenditure + Net investment + Government purchases + Net exports
= 875 + 399 + 450 + 72 = 1796
II)
Year 1; Real GDP = Nominal GDP / Price level = 4742.8/80.22 = 59.122
Year 2; Real GDP = 8790.2/103.22 = 85.16
III)
Unemployment rate = Unemployed people / Labor force x 100
Unemployed people = Labor force - Employed people
Year 1; Unemployed = 133000 - 120000 = 13000
Unemployment rate = 13000/133000 x 100 = 9.78%
Year 2; Unemployed = 220,000 - 204,000 = 16000
Unemployment rate = 16000/220000 x 100 = 7.3%
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