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answerstohomework1summer2006

answerstohomework1summer2006 - Economics 302 4 Week Summer...

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Economics 302 4 Week Summer Session 2006 Answers to Homework #1 Due Thursday, June 1, 2006 5/30/06 Homework will be graded for content as well as neatness. Sloppy or illegible work will not receive full credit. This homework requires the use of Excel which is a spreadsheet program. 1. Using Excel replicate the following table and then calculate the missing cell values using an Excel formula (this is obviously simple to do by hand, but the point is to start with an easy assignment with excel and build your skills). The following table is based on the Survey of Current Business (August 2000). Note all numbers for Nominal GDP, consumption, gross investment, government purchases of goods and services, and net exports are in billions of current dollars. Year Nominal GDP Consumption Gross Investment Government Net Exports Purchases 1929 104 77.5 16.7 9.4 0.4 1933 56.4 45.9 1.7 8.7 0.1 1939 92 67.2 9.3 14.7 0.8 1945 223 119.8 10.8 93.3 -0.9 1980 2795.6 1762.9 477.9 569.7 -14.9 1990 5803.2 3831.5 861.7 1181.4 -71.4 1999 9299.2 6268.7 1650.1 1634.4 -254 Year C as % of Gross I as % Government Net Exports as Nominal GDP of Nom. GDP as % of Nom. GDP % of Nom. GDP 1929 74.52 16.06 9.04 0.38 1933 81.38 3.01 15.43 0.18 1939 73.04 10.11 15.98 0.87 1945 53.72 4.84 41.84 -0.40 1980 63.06 17.09 20.38 -0.53 1990 66.02 14.85 20.36 -1.23 1999 67.41 17.74 17.58 -2.73 Now using an Excel spreadsheet, calculate the following: (for your answers provide your Excel spreadsheet with the calculated values: please make sure the columns are clearly identified) a. Consumption each year as a percent of nominal GDP for that year b.
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