Refer to Table 8-4. Consider the data above (in billions of…

Refer to Table 8-4. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals  Table 8-4  Consumption expenditures $800 Investment expenditures   300 Government purchases   300 Government transfer payments   400 Exports   300 Imports   100

Refer to Table 8-15. Consider the following data on nominal…

Refer to Table 8-15. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The GDP deflator for 2023 equals Table 8-15  Year Nominal GDP Real GDP           2022 $13,399 $12,976           2023   14,078   13,254           2024   14,441   13,312