Asked by Trap muzik Blossom on Jun 09, 2024
Verified
Consumption is $7 trillion, investment is $1.5 trillion, government expenditures are $2 trillion, government transfer payments are $1 trillion, exports are $1.50 trillion and imports are $1.25 trillion. What is GDP?
GDP
Gross Domestic Product, which is the total value of all goods and services produced over a specific time period within a country.
- Grasp the idea of Gross Domestic Product (GDP) and what it comprises.
- Evaluate Gross Domestic Product via diverse methods and recognize the principle of net exports.
Verified Answer
BM
Bipin MainaliJun 15, 2024
Final Answer :
GDP = C + I + G + NX = $7 trillion + $1.5 trillion + $2 trillion + $1.5 trillion - $1.25 trillion
= $10.75 trillion
= $10.75 trillion
Learning Objectives
- Grasp the idea of Gross Domestic Product (GDP) and what it comprises.
- Evaluate Gross Domestic Product via diverse methods and recognize the principle of net exports.