The table below shows hypothetical values of the expenditure components for the United States in 2015. Expenditures in the United States Amount of Expenditure (billions of Expenditure Component dollars) Durable goods $1,230.6 Nondurable goods 2,621.7 Services 7,593.0 Nonresidential fixed investment 2,023.6 Residential fixed investment 456.6 Change in private inventories 66.6 Exports 2,273.9 Imports 2,829.2 Federal government 1,330.4 1,938.4 State and local government Using the values in the table, calculate the following aggregate expenditures and nominal GDP.

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter9: Aggregate Demand
Section: Chapter Questions
Problem 4.8P
Question
The table below shows hypothetical values of the expenditure components for the United States in 2015.
Expenditures in the United States
Amount of
Expenditure
(billions of
Expenditure Component
dollars)
Durable goods
$1,230.6
Nondurable goods
2,621.7
Services
7,593.0
Nonresidential fixed investment
2,023.6
Residential fixed investment
456.6
Change in private inventories
66.6
Exports
2,273.9
Imports
2,829.2
Federal government
1,330.4
1,938.4
State and local government
Using the values in the table, calculate the following aggregate expenditures and nominal GDP.
Transcribed Image Text:The table below shows hypothetical values of the expenditure components for the United States in 2015. Expenditures in the United States Amount of Expenditure (billions of Expenditure Component dollars) Durable goods $1,230.6 Nondurable goods 2,621.7 Services 7,593.0 Nonresidential fixed investment 2,023.6 Residential fixed investment 456.6 Change in private inventories 66.6 Exports 2,273.9 Imports 2,829.2 Federal government 1,330.4 1,938.4 State and local government Using the values in the table, calculate the following aggregate expenditures and nominal GDP.
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