The Table That Follows Shows Components of Aggregate Expenditures

question 248

Essay

The table that follows shows components of aggregate expenditures.What is GDP according to the expenditure approach? What are the amounts of the major categories of spending?
National Income and Product Accounts Categories Thousands
Residential housing
$15
Consumption expenditures on durable goods
30
Exports
20
Government purchases
10
Consumption expenditures on nondurable goods
50
Changes in inventory
5
Imports
15
Domestic investment (excluding inventory changes and residential housing)
10

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Definitions:

Automatic Processing

The ability of the brain to perform tasks with minimal or no conscious thought, often as a result of learning or repetition.

Recall, Recognition, And Relearning

Cognitive processes related to memory, where recall involves retrieving information without cues, recognition requires identifying information from available options, and relearning measures how much faster information is processed or learned again after it has been previously learned and forgotten.

Encoding

The initial process of transforming information into a form that can be stored in memory, an essential step in the creation of new memories.

Echoic Memory

A subtype of sensory memory that retains audio information for a brief period, usually up to several seconds after the original sound has ceased.