Please answer the following questions:
1) List the components of GDP in the output (expenditures) approach.
2) Please calculate the growth rate based on the following information:
U.S. GDP 2021 = 22.1 trillion dollars
U.S. GDP 2020 = 20.3 trillion dollars
U.S. GDP 2019 = 19.1 trillion dollars
What is the growth rate between 2020 and 2021?
What is the growth rate between 2019 and 2020?
3) Using the GDP Deflator, calculate the following in (B) billions:
Consumer Government Investment Net Exports
2020: Q P Q P Q P Q P
20 B $6.00 10 B $3.00 10 B $8.00 -3 B $10.00
2019: Q P Q P Q P Q P
18 B $7.00 11 B $4.00 9 B $7.00 -2 B $12.00
What is the GDP Deflator?
4) What are the 2021 GDP for the following countries: Vietnam, Indonesia, Brazil and Russia, and compare it to the U.S. What is your analysis?
