Question: -------------------------------------- Homework (Ch 05) Back to Assignment Attempts: I I Average: / 2 3. Calculating GDP from raw economic data The following table shows data

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-------------------------------------- Homework (Ch 05) Back to Assignment Attempts: I I Average: /

Homework (Ch 05) Back to Assignment Attempts: I I Average: / 2 3. Calculating GDP from raw economic data The following table shows data on personal consumption expenditures, gross private domestic investment, exports, imports, and government consumption expenditures and gross investment for the United States in 2010, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components Personal Consumption Expenditures (C) $10,417.1 Gross Private Domestic Investment (I) $1,818 Exports (X) $1,935.3 Imports (M) $2,435.5 Net exports of goods and services (X7 M) Government Consumption Expenditures and Gross Investment (G) $3,020.2 Gross domestic product (GDP) This method of calculating GDP, which involves summing the V , is called the V approach. X

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