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:

Defined

Clearly characterized or determined; having a clear definition or boundary.

Atlantic Slave Trade

The transatlantic trading of African people, primarily to the Americas, where they were sold as slaves from the 16th to the 19th centuries, a key part of the triangular trade.

Forefront

The leading or most important position or place, often used in the context of being at the forefront of a particular field or movement.

Movement

An act of changing physical location or position or of having this changed.