Find data on GDP and its components and compute the percentage of GDP for the following components for 1950, 1980 and 2005:
A) Personal consumption expenditures
B) Gross private domestic investment
C) Government purchases
D) Net exports
E) National defense purchases
F) State and Local Purchases
To find data for the problem, go to http://www.bea.doc.gov. In the Publications menu to the left click on Interactive Data. Select National Income and Product Accounts and then click on Frequently selected NIPA tables. Choose Table 1.1.5. Gross Domestic Product (A) (Q). Select the period (1930-2004) for which you want the data and make sure that you request annual data by clicking the respective box.
This solution analyzes the GDP (Gross Domestic Product) and its components for three time periods.