Go to http://www.bea.gov, from the drop down menu under data click on Economics account > National> gross
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 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
Macroeconomics Principles And Policy
ISBN: 9780324586213
11th Edition
Authors: William J. Baumol, Alan S. Blinder