Assignment Three Your text has defined a method to calculate GDP as C+I+G+(X-M)

Question

Assignment Three

Your text has defined a method to calculate GDP as C+I+G+(X-M)

Go to the US Department of Commerce's Bureau of Economic Analysis website located at http://www.bea.gov/index.htm. Click on the National GDP for the latest release for data. Use the information provided in the article to identify what the percentage change has been for any three of the variables (C,I,G,X, or M) used to calculate GDP. This assignment is designed for you to figure out how to navigate the website and match the definitions of C, I, G, X and M with data collected by the government. Be sure to provide citations to identify the exact latest release you used. Without this citation, I will not know what release to review when grading your assignment.

Explanation / Answer

Given percentages are second estimate of third quarter. Data given below is secondary data.

Citation: https://www.bea.gov/scb/pdf/2017/12-December/1217-gdp-and-the-economy.pdf .

Click on GDP and the Economy: Second Estimates for the Third Quarter of 2017 under National Income and Product Accounts (NIPA) Estimates below mothly overview.In the articles section to go to the cited link.

(i).Consumer Spending

Consumption (C) increased 2.3 percent in third quarter.

(ii).Export and Import :

Export of goods and services increased 2.2 percent in the third quarter.

(iii).Goverment Spending (G) :

Goverment spending increased 0.4 percent in the third quarter.

All these factors account to change in GDP given in the article mentioned in the question.

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