The table in the next column lists some national accounts data for the United States in 2019.
Question:
The table in the next column lists some national accounts data for the United States in 2019.
a. Calculate U.S. GDP in 2019.
b. Explain the approach (expenditure or income)
you used to calculate GDP.
Transcribed Image Text:
Item Wages Consumption expenditure Other factor incomes Investment Government expenditure Net exports Depreciation Billions of dollars 11,317 14,266 4,935 3,784 3,683 -634 3,402
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To calculate the US GDP for 2019 we can use the expenditure approach which is one of the most common ...View the full answer
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