# Introduction to Macroeconomics

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### Question Description

It is an assignment for an introductory macroeconomics course. Please get back to me with any questions that you might have. Thanks.

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DrGates
School: Duke University

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MACROECONOMICS

1

Macroeconomics
Student’s Name
Institution Affiliation

MACROECONOMICS
Question 1-4
(GDP, gross investment, personal income & personal savings)
1. D (\$1200)
GDP = Net domestic product + depreciation
= \$1120 + 80 = \$1200
2. C (\$90)
GPD = Consumption expenditures + government expenditures + gross investment + (net
imports)
Gross investment = \$1200 -800-300-10 = \$90
3. B (\$1,650)
Personal income = personal disposable income + personal income taxes
=\$1500+150 = \$1650
4. D (\$850)
Personal income also = Consumption expenditures + personal savings
Personal savings = personal income – consumption expenditures
=\$1650-800 = \$850
Question 5-9 (1st decimal, no rounding off)
5. C (\$571.2)
Actual GDP = (Real GDP * GDP price deflator)/100
= 560*102/100
=\$571.2
6. D (3.3%)
Actual GDP rate of growth in 2016 = (actual GDP 2016 – actual GDP 2015)/ actual
GDP 2015 *100
= (590.4-571.2)/571.2 *100 = 3.3%
7. C (1.2%)
Rate of inflation (2016) = (GDP price deflator 2016- GDP price deflator 2015)/ GDP
price deflator 2015 *100

2

MACROECONOMICS

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= (103.3-102)/102 *100
=1.2%
8. B (105.3)
GDP price de...

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