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Macroeconomics

Calculate GDP

Using the expenditure approach calculate GDP from the following data: - personal consumption expenditures $1556 - net exports $132 - gross private domestic investment $162 - government purchases of goods and services $450 - personal income $1700 - corporate profits $600

Predicting the future course of Fed policy

Suppose the Fed's Beige Book reported that "in South Florida, bookings for the summer tourist season were off to a slower start than last year" and that "tourist counts and revenues were down in Hawaii and Las Vegas and at destinations such as golf schools and luxury resorts in the inter-mountain states and along the West Coast.