The following table shows data on consumption investment exp

The following table shows data on consumption, investment, exports, imports, and government expenditures for the United States in 2011, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the missing cells in the table to calculate GDP using the expenditure approach.

Solution

Personal Consumption Expenditure(C)                                                  10279

Gross private Domestic Investment (I)                                                    1854.9

Exports (X)                                                                                          2094.2

Imports (M)                                                                                          2662.3

Net Exports of Goods and Services (NX)= Exports (X)-Imports (M) = 2094.2-2662.3 = -568.1

Government Consumption Expenditures and Gross Investment (G)        3059.8

Gross Domestic Product (GDP) = C+I+G+NX= 10279 + 1854.9 +3059.8 + (-568.1) =14625.6