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Aggregate expenditures and nominal gdp

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Reference no: EM131395569

Using the values in the table, calculate the following aggregate expenditures and nominal GDP.

Instructions: Round your answers to 1 decimal place. Include a negative sign if necessary.

a. Calculate consumption expenditures in 2013.  _____ $ billion

b. Calculate the amount of net exports in 2013.  _______ $ billion

c. Calculate nominal GDP in 2013.  ________  $ billion

The table below shows the expenditure components for the United States in 2013.

Type of Expenditure Component

Amount of Expenditure (billions of dollars)

Durable goods

$1,249.3

Nondurable goods

2,601.9

Services

7,633.2

Gross investment

2,648.0

Exports

2,262.2

Imports

2,770.4

Federal government

1,231.5

State and local government

1,912.4

 

Reference no: EM131395569

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