Obtain data about 2012 gross domestic product at www.bea.gov to complete the tab
ID: 1224584 • Letter: O
Question
Obtain data about 2012 gross domestic product at www.bea.gov to complete the table below.
When completing this table, recall that Y = C + I + G + NX.
Use the most recent Consumer price Index reported by the Bureau of Labor Statistics.
GDP and Its Components
Total
(in billions of dollars)
Per Person
(in dollars)
Percent of Total
Gross Domestic Product, Y
Consumption, C
Investment, I
Government purchases, G
Net exports, NX
Total
(in billions of dollars)
Per Person
(in dollars)
Percent of Total
Gross Domestic Product, Y
Consumption, C
Investment, I
Government purchases, G
Net exports, NX
Explanation / Answer
Population of United States in 2012 = 314.1 million
Following is the complete table -
Total
(in billions dollars)
Per person
(in dollars)
Total
(in billions dollars)
Per person
(in dollars)
Percent of Total GDP, Y 16,155.3 ($16,155.3 billion/314.1 million) = $51,433.62 C 11,050.6 ($11,050.6 billion/314.1 million) = $35,181.79 (C/Y) * 100 = 68.40% I 2,511.7 ($2,511.7 billion/314.1 million) = $7,996.48 (I/Y) * 100 = 15.54% G 3,158.6 ($3,158.6 billion/314.1 million) = $10,056.03 (G/Y) *100 = 19.55% NX -565.7 ($565.7 billion/314.1 million) = $1,801.01 (NX/Y) * 100 = -3.49%Related Questions
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