Personal consumption expenditures $250 billion Wages and salaries exports of goods and services - 17.8Consumption of fixed capital - 11.8Government purchases - 59.4Taxes on production and imports - 14.4Net private domestic investment - 52.1Transfer payments - … Category Value $ billion. Depreciation $26 billion . Find NDP by making the appropriate adjustment to GDP. Purchases of final goods by government are included. Using the following NIPA data, compute GDP. Calculating GDP Problem: Given the following data, compute GDP: Consumption expenditures = $ 600 Exports = $ 75 Govt. 223 18 42 28 86 82 9 GDP = $404 = [$245 + 86 + 82 + (9-18)] View desktop site. Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of ... constructed using largely independent source data. Using the following NIPA data, compute GDP. Category Value Personal Consumption Expenditures $245 Billion Wages And Salaries $223 Billion Imports $18 Billion Corporate Profits $42 Billion Depreciation $28 Billion Gross Private Domestic Investment $86 Billion Government Purchases $82 Billion Exports $9 Billion GDP Is( ) $ Billion. Category Value Personal consumption expenditures $250 billion Wages and salaries $224 billion Imports $17 billion Corporate Profits $41 billion Depreciation $27 billion Gross private domestic investment $85 billion Government purchases $81 billion Exports $8 billion GDP is $ billion. Category Personal consumption expenditures$245 billion . 13-8 Compute real GDP. The NIPAs present the value and composition of national output and the types of incomes generated in its production. Depreciation $27 billion Gross private domestic investment $85 The national income and product accounts (NIPA) are part of the national accounts of the United States.They are produced by the Bureau of Economic Analysis of the Department of Commerce. Figure 1. This paper introduces new users to the basics of the U.S. national income and product accounts (NIPAs). Year Nominal GDP, Billions Price index (2000 = 100) Real GDP, Billions 1964. 24-12 (Key Question) The following table shows nominal GDP and an appropriate price index for a group of selected years. 146. Part a: Using the expenditures approach, GDP = $219.1 (Personal consumption expenditures) + (For information on the concepts and definitions underlying the NIPAs, see “Chapter 2: Value $60 billion GDP = (personal consumption expenditures + gross private domestic investment + gov't purchases) + (exports - imports) Suppose that in 1984 the total output in a single-good economy was 12,000 buckets of chicken and the price of each bucket of chicken was $16. Value $60 billion Category Personal consumption expenditures Wages and salaries Imports Corporate Profits Depreciation Gross private domestic investment $30 billion -$10 billion $30 billion $8 billion $25 billion GDP is $0 billion . Gross private domestic investment$84 billion. … GDP = (personal consumption expenditures + gross private domestic investment + gov't purchases) + (exports - imports) All figures are in billions. Consumption of fixed capital (depreciation) Gross private domestic investment. Category Personal consumption expenditures Wages and salaries Data Tools . 8.Calculate U.S. GDP in 2008. Question: Using The Following NIPA Data, Compute GDP. GDP is Wages and salaries$227 billion. | National income accounting is a government bookkeeping system that measures a country's economic activity—offering insight into how an economy is performing. $224 billion Imports $17 billion Corporate Profits $41 billion Transfer Payments 1700 Interest 700 Net Exports 500 Indirect business taxes 685 Net foreign factor income 15 Gross Private Domestic Investment 1500 Rents 200 Government purchases 2100 Personal Consumption Expenditures 8000 Proprietor income 850 … 12-7 Using the following NIPA data, compute GDP. Feedback: Consider the following example. Value $60 billion Category Personal consumption expenditures Wages and salaries Imports Corporate Profits Depreciation Gross private domestic investment $30 billion -$10 billion $30 billion $8 billion $25 billion GDP is $ billion. Problem 4P from Chapter 10: Using the NIPA data below, compute GDP. They are one of the main sources of data on general economic activity in the United States. Indicate in each calculation whether you are inflating or deflating the nominal GDP data. & Corporate Profit $40 billion . Privacy © 2003-2021 Chegg Inc. All rights reserved. Consumption accounted for 68.7% of total GDP, investment expenditure for 16.3%, government spending for 17.6%, while net exports (exports minus imports) actually subtracted 2.7% from total GDP.The pie chart gives a nice visual of the components of GDP, but keep in mind that since the net export expenditure share is negative, the size of the …