The following are national income account data for a hypothetical economy in billions of dollars: government purchases ($940); personal consumption expenditures ($4,920); imports ($170); exports ($133); gross investment ($640).What is GDP in this economy?
A)$6,463 billion
B)$6,500 billion
C)$6,537 billion
D)$6,633 billion

Question

Quizplus · Accepted Answer

GDP = C + I + G + (X-M)
GDP = 4,920 + 640 + 940 + (133-170)
GDP = 6,463 billion

The Following Are National Income Account Data for a Hypothetical