Exploring GDP

1.The reading gives us GDP data for three years that you probably do not remember. You can update the table using the internet. What would the table look like with the most current data available? (You can find the data in several places. One place you might look is <http://www.bea.gov/>. You will have to search a bit, but it would not be an assignment if you did not have to work.)

2. Below are statistics for U.S. GNP and its parts for 1944. Data are in terms of 1944 prices and are in billions of dollars.

GNP	$210.1
Compensation of Employees	121.2
Consumption	108.3
Proprietors' Income	29.8
Corporate Profits	23.8
Indirect Taxes & other	16.5
Depreciation	11.0
Investment	7.1
Rental Income	5.4
Interest	2.3
Net Exports	-1.8

a) How large were government purchases in 1944?
$

b) By how much was the capital stock changing?
by $

c) In 1958 prices, 1944 GNP was 361.3. What was the value of the GNP deflator for 1944?

d) What was the value of National Income in 1944?
$

e) What was the value of Net National Product in 1944?
$

f) Imports for 1944 were 7.1. What were exports?
$

a) How large were government purchases in 1944?	$
b) By how much was the capital stock changing?	by $
c) In 1958 prices, 1944 GNP was 361.3. What was the value of the GNP deflator for 1944?
d) What was the value of National Income in 1944?	$
e) What was the value of Net National Product in 1944?	$
f) Imports for 1944 were 7.1. What were exports?	$