Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue

Exercise 15

THE RECESSION OF 2001-WHICH COMPONENT OF AD DECLINED THE MOST Use the interactive feature of the Bureau of Economic Analysis Web site, www.bea.gov , to access the National Income and Product Account Tables. From Table 1.2 find the levels of real GDP, personal consumption expenditures ( C ), gross private investment ( I g ), net exports ( X n ), and government consumption expenditures and gross investment ( G ) in the first and third quarters of 2001. By what percentage did real GDP decline over this period Which of the four broad components of aggregate demand decreased by the largest percentage amount