Exercise #1 GDP- Macroeconomics
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DataExercise-1-AHelpfulGuide.docData Exercise 1: A Helpful Guide
Part 1: Expenditures Approach to Calculating GDP
On an Internet engine, type www.bea.gov , and when the screen opens, click on the Tools tab and then click on Interactive Data. Then click on GDP and Personal Income tab. When the screen changes, click on Begin Using The Data tab (shown on your left). When the screen opens, click on Section 1 tab to see Table 1.1.5, Table 1.1.6, and Table 1.7.5 listed.
2019:1Q
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Gross Domestic Product |
$ |
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Personal Consumption Expenditures |
$ |
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Gross Private Domestic Investment |
$ |
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Net Exports of Goods & Services |
$ |
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Government Consumption Expenditures and Gross Investment |
$ |
Insert the data/numbers in a table created above and then answer the questions asked.
*Use the following link, to obtain Real Gross Domestic Product from Table 1.1.6.
http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=3&isuri=1&903=6
2019:1Q
|
Gross Domestic Product |
$ |
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Personal Consumption Expenditures |
$ |
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Gross Private Domestic Investment |
$ |
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Net Exports of Goods & Services |
$ |
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Government Consumption Expenditures and Gross Investment |
$ |
Insert the data/numbers in a table created above and then answer the questions asked.
Part 2: Income Approach to Calculating GDP
Use the following link, to obtain GDP, GNP, NNP, NI and PI from Table 1.7.5
http://www.bea.gov/iTable/iTable.cfm?ReqID=9&step=1#reqid=9&step=3&isuri=1&903=43
Insert the data/numbers in a table such as the one below:
2019: 1Q
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Gross Domestic Product |
$ |
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Gross National Product |
$ |
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Net National Product |
$ |
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National Income |
$ |
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Personal Income |
$ |
Then, answer the questions asked.
Part 3:
Type the address below in the search engine to find data for the U.S. and other countries
http://www.worldbank.org/en/country/unitedstates
That is, go to the search engine and type in www.worldbank.org and click on Countries tab. Each country is listed in an alphabetical order. But, the countries you need to examine are: United States, Japan, China, Mexico, Russia, Switzerland, Sweden and Luxembourg. No other country you select will be accepted, and no credit will be given.
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Country |
GDP (in million $) |
Population (in million) |
Per-capita income =(gdp/population) [In US$] |
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United States |
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Japan |
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China |
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Mexico |
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Russia |
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Switzerland |
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Sweden |
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Luxembourg |
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List the countries from highest to lowest in terms of per-capita income
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Country |
Per Capita GDP (in U.S. dollars) |
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Part 4:
Accessing Heritage Data for Index of Economic Freedom 2019
Type Index of Economic Freedom 2019 in (Google) Search engine
When the new screen pops up, click on Country Rankings tab that appears below
When the new screen pops up, you will see Find the Country tab located on the right top.
Type the name of the country (one country at a time) and hit enter
You will now be able to view the relevant data
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Country |
Overall Economic Freedom Score |
Index Rank |
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2)
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Country |
Property rights |
Business freedom |
Trade freedom |
Financial freedom |
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3)
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Country |
Per Capita GDP (in thousands of U.S. dollars) |
Overall score |
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Finally, answer the questions asked.
