1. Business
  2. Economics
  3. question 1 the following table provides the information about major...

Question: question 1 the following table provides the information about major...

Question details

Question 1 The following table provides the information about major categories of U.S. expenditure, except net exports, in billions of US dollars in the third quarter of 2018. The table also shows the incomes of American factors of production in foreign countries and foreign factors of production in the United States. Use the information to calculate items (a) and Consumption expenditure Investment Government purchases GDP Income of American factors of production abroad Income of foreign factors of production in the United States Billions of dollars 14050.5 3710.7 3550.5 20658.2 1071.5 816.5 a. (2 points) Calculate the U.S. net exports. Do you consider it a trade surplus or a trade deficit? b. (2 points) Calculate the US Gross National Product (GNP)
Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution