homework1spring2008 - Economics 302 Spring 2008 Homework #1...

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Economics 302 Spring 2008 Homework #1 Homework will be graded for both content and neatness. This homework requires the use of Microsoft Excel. 1) The following table is taken from the Bureau of Economic Analysis data release on quarterly GDP from 1/30/2008. Figures in Billions of Dollars 2007-I 2007-II 2007-III 2007-IV Gross domestic product Personal consumption expenditures 9674 9785.7 9928 Durable goods 1074 1074.7 1081.6 Nondurable goods 2759.4 2822.7 2903.7 Services 5707.1 5857.8 5936.3 Gross private domestic investment 2139.1 2162.9 2109.8 Fixed investment 2118.9 2133.9 2127.5 2118.3 Nonresidential 1431.4 1469.1 1532.1 Residential 687.5 627.3 586.2 Change in private inventories -1.6 5.1 35.4 Net exports of goods and services -714.2 -694.7 Exports 1549.9 1685.7 1727.1 Imports 2264 2312.9 2454.6 Government expenditures 2670 2716.5 Federal 946.6 990.3 997.1 State and local 1661.7 1700.5 1773.6 a) Fill in all the blanks in the table. (While this can be done by hand, you will find it easier to use Excel). Don’t forget to calculate GDP. b) In their release, the BEA points out that their GDP data is “seasonally adjusted at
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This note was uploaded on 08/08/2008 for the course ECON 302 taught by Professor Gold during the Spring '07 term at University of Wisconsin.

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homework1spring2008 - Economics 302 Spring 2008 Homework #1...

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