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Using the values in the table, calculate the following aggregate expenditures and nominal GDP.
Instructions: Round your answers to 1 decimal place. Include a negative sign if necessary.
a. Calculate consumption expenditures in 2013. _____ $ billion
b. Calculate the amount of net exports in 2013. _______ $ billion
c. Calculate nominal GDP in 2013. ________ $ billion
The table below shows the expenditure components for the United States in 2013.
Type of Expenditure Component
Amount of Expenditure (billions of dollars)
Durable goods
$1,249.3
Nondurable goods
2,601.9
Services
7,633.2
Gross investment
2,648.0
Exports
2,262.2
Imports
2,770.4
Federal government
1,231.5
State and local government
1,912.4
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