The table below includes data for a one-year period required to calculate GDP from the expenditure side for a teeny-tiny economy. TABLE 20-1 Refer to Table 20-1.What is the value of GDP,as calculated from the expenditure side?

Question

The table below includes data for a one-year period required to calculate GDP from the expenditure side for a teeny-tiny economy.  TABLE 20-1 Refer to Table 20-1.What is the value of GDP,as calculated from the expenditure side?

Quizplus · Accepted Answer

To calculate GDP from the expenditure side, we sum up the values of all final goods and services produced in the economy. From the table, we can see that the sum of consumption expenditure, investment expenditure, government expenditure, and net exports is $2285.20. Therefore, the value of GDP is $2285.20.

The Table Below Includes Data for a One-Year Period Required