Question: Go to http://www.bea.gov, from the drop down menu under data click on Economics account > National> gross domestic product and full release and tables. Use

Go to http://www.bea.gov, from the drop down menu under data click on Economics account > National> gross domestic product and full release and tables. Use table 7( relation of gross domestic product and gross national product and national income) and table 8(personal income and its disposition)

1. Create the table that contains the following information for the most recent quarter where data is required for this exercise is available . Note using data for previous years or estimates will produce a grade zero. Omit the intermidiate lines found in tables 7&8 on the website

Gross domestic product

Gross national product

Net national product ( you should calculate it as Gross national product minus consumption of fixed capital)

National income

Personal income

Personal disposable income

Personal savings

2) what is the difference between gross domestic product and gross national product? What is the difference in what gdp measures compared to GNP?

Based on the table, what calculations must you make to determine GNP from GDP

What is national income? What does NI measure?

Which is higher in this year? GNP or NI? By how much?

What calculation must you make to determine NI from GNP?

What calculation must you make to determine Personal Income from National Income?

What calculation must you make to determine Personal disposable income and Personal savings?

Please analyze and discuss the significance of the data received from the data exercise

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Answer 1 Table with the requested information for the most recent quarter Gross domestic product GDP 239899 billion Gross national product GNP 241154 ... View full answer

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