Economics (McConnell) AP Edition, 19th Edition

Chapter 29: Aggregate Demand and Aggregate Supply (+ Appendix)

Web-based Questions

1
Feeling wealthier; Spending more? Access the Bureau of Economic Analysis Web site, www.bea.gov, interactively. Select "Interactive Data Tables," which is listed under Publications. On that page, select "National Income and Product Accounts." Go to the List of All NIPA Tables and then find Table 1.1.6, which will give you access to real GDP figures for the U.S. economy. Find the annual levels of real GDP and real consumption for 2005 and 2006. Did consumption increase more rapidly or less rapidly in percentage terms than real GDP?
2
The recession of 2007-2009—Which component of AD declined the most? Use the interactive feature of the Bureau of Economic Analysis Web site, www.bea.gov, to access the National Income and Product Account Tables. Select Interactive Data Tables, which is listed under Publications. On that page, select National Income and Product Accounts. Go to the List of All NIPA Tables and then find Table 1.1.6, which will give you access to real GDP figures for the U.S. economy. From Table 1.1.6 find the levels of real GDP, personal consumption expenditures (C), gross private investment (Ig), net exports (Xn), and government consumption expenditures and gross investment (G) in the first and third quarters of 2008. By what percentage did real GDP decline over this period? Which of the four broad components of aggregate demand decreased by the largest percentage amount?
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