Principles of Macroeconomics (Maymester 2009)

Activity #3  (Chapter 5)

Email the answers of the following questions with your name to ychen@sgc.edu

Due Day __May 23______

Instruction:

1. Visit the U.S. Department of Commerce, Bureau of Economic Analysis Website at http://www.bea.gov/index.htm  

2. Under National, click on Gross Domestic Product (GDP).

3. Click on GDP and the National Income and Product Account (NIPA) Historical Tables

4. Click on Choose a table from a list of Selected NIPA Tables

5. Use Table 1.1.5 and Table 1.1.6 to answer the following questions.

Question 1. (5 points) What is the U.S. GDP for the 1^st quarter of 2009? ____________   (dollar in trillions)

Question 2. (5 points) What is the U.S. Real GDP for the 1^st quarter of 2009?

____________   (dollar in trillions)

Question 3. (Challenging: 10 points) Which year is the base year? _________