2. Economics
3. 3 the following table gives rounded annual gdp figures as...

# Question: 3 the following table gives rounded annual gdp figures as...

###### Question details

3. The following table gives rounded annual GDP figures as of the third quarter (July-Aug-Sep)

2018:

 Consumption spending $14,050 Investment spending$3,710 Depreciation $1,750 Government spending on goods and services$3,550 Government transfer payments $8,200 Total exports$2,540 Total imports \$3,195

a. Calculate GDP using the spending approach. (Note that not all values will be used.)

b. Calculate the percentage of each spending component relative to total GDP. Are your percentages consistent with what we should expect for the US economy? Explain.