Goods and services that are produced in the U.S. and then exported to foreign countries account for what percentage of the nation's annual growth? Question 32 options: 5 percent 10 percent 15 percent 20 percent
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Mauya M.
Several indicators of long-term economic growth in the United States and their annual percent change are listed below. $$ \begin{array}{|lclc|} \hline \text { Economic Indicator } & \text { Percent Change } & \text { Economic Indicator } & \text { Percent Change } \\ \hline \text { Inflation } & 4.5 \% & \text { Real GNP } & 2.9 \% \\ \text { Exports } & 4.7 & \text { Investment (residential) } & 3.6 \\ \text { Imports } & 2.3 & \text { Investment (nonresidential) } & 2.1 \\ \text { Real disposable income } & 2.9 & \text { Productivity (total) } & 1.4 \\ \text { Consumption } & 2.7 & \text { Productivity (manufacturing) } & 5.2 \\ \hline \end{array} $$ a. What is the median percent change? b. What is the modal percent change?
The following data were recently obtained from the BEA; values are in billions of dollars: Personal consumption expenditures, new goods: $3,780 Personal consumption expenditures, services: $8,667.8 Personal consumption expenditures, used goods: $570 Gross private domestic investment: $3,096.3 Exports of goods and services: $1,798.2 Imports of goods and services: $2,342.9 Government consumption expenditures and gross investment: $3,839.3 Government outlays for SNAP (food stamp) program: $85.4 a. What is the value of GDP? b. Your company has several factories and divisions located in other countries; how does the production of goods and services from those factories and divisions affect both the U.S. and the other countries' GDP? c. You are considering expanding your sales to either the country of Greater Dumpington or Lesser Dumpington, but are concerned about the local citizens' ability to afford your relatively expensive products. Both countries have the same GDP, but Greater Dumpington has twice the population size as Lesser Dumpington. In which country should you expand?
Akash M.
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