A What is the value of net exports B What is the value of go

A) What is the value of net exports?

B) What is the value of government purchases of goods and services and government investment spending?

C) What is total GDP, accounting for statistical discrepancy?

Thank You!

Time Period Q2 2015 Final consumption expenditure 1553580 1109616 483144 138456 79036 265652 626472 27524 416440 469656 390816 143392 213712 132452 81260 33712 2760 76080 4620 4480 6636 -2156 625608 523624 101984 673500 546676 126824 -244 1979720 2023236 oHousehold final consumption expenditure ·Goods aDurable goods aSemi-durable goods eNon-durable goods Services oNon-profit institutions serving households\' final consumption expenditur General governments final consumption expenditure Gross fixed capital formation Business gross fixed capital formation oResidential structures Non-residential structures, machinery and equipment Non-residential structures ·Machinery and equipment Intellectual property products Non-profit institutions serving households\' gross fixed capital formation General governments gross fixed capital formation ·Investment in inventories oOf which: business investment in inventories Non-farm Farm Exports of goods and services Exports of goods Exports of services Less: imports of goods and services lmports of goods Imports of services Statistical discrepancy Gross domestic product at market prices Final domestic demand

Solution

(A) Net exports = Total exports of goods and services - Total imports of goods and services

= 625608 - 673500

= - 47892

(B)

Government purchase of goods and services = General government\'s final consumption expenditure

= 416440

Government investment spending = General government\'s gross fixed capital formation

= 76080

(C) GDP (accounting for statistical discrepancy) = GDP at market prices - statistical discrepancy

= 1979720 - (- 244) = 1979720 + 244

= 1979964