data exercise

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Format of the Project:

No required amount of pages!

The paper should be written in APA style Research Paper format.

Please note that Use of APA Citation Methodology is required for all parts of the assignment

Written projects must be:

typed, double-spaced, in 12-point Times New Roman or Arial font, with margins no wider than one inch

have footnotes or endnotes, with correct citations

have a bibliography of sources used

include, for each entry, the author, title, city and state of publisher, publisher’s name, year, and page numbers

prepared using word processing software (Microsoft Word preferred), in a manner similar to the preparation of a written assignment for classroom submission

Assignment Should:

Consists of four parts

Part 1: Expenditures Approach to Calculating GDP (weight 25% of the assignment grade)

Complete the following exercise

Visit the Bureau of Economic Analysis website at HYPERLINK “” t “_blank” From the drop-down menu under “Data”, click on “by Economics Account”. Then click on “National”, “Gross Domestic Product, and “Full Release and Tables”. Use table 3 (Gross Domestic Product: Level and Change from Preceding Period). The left columns are nominal GDP (and its components) and the right half represents real GDP (chained 2012 dollars)

a) Create the table that contains the following information for the last quarter. You need this information from both parts of the table 3- (nominal GDP (and its components) from left columns and real GDP (chained 2012 dollars) from the right part of the table 3). Omit the intermediate lines found in Table 3 on the web site.

Gross domestic product

Gross private domestic investment

Net exports of goods and services

Government consumption expenditures and gross investment

Personal consumption expenditures

b) Calculate the percentage (the proportion) of each category in nominal GDP and in real GDP.

Using Nominal GDP:

[Personal consumption expenditures / Nominal GDP]*100%

[Gross private domestic investment / Nominal GDP]*100%

[Net exports of goods and services / Nominal GDP]*100%

[Government consumption expenditures and gross investment/ Nominal GDP]*100%

And using Real GDP:

[Personal consumption expenditures / Real GDP]*100%

[Gross private domestic investment / Real]*100%

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