What is the GDP using the table shown? $$\begin{array} { | l | c | }
\hline & \text { In billims of dallars } \
\hline \text { Consurngtion } & 3,600 \
\hline \text { Irvestment } & 800 \
\hline \text { Transfer payments } & 750 \
\hline \text { Government Purchases } & 1,000 \
\hline \text { Exports } & 650 \
\hline \text { Imports } & 450 \
\hline \text { Net foreign factor incorne } & - 30 \
\hline
\end{array}$$

Question

What is the GDP using the table shown? $$\begin{array} { | l | c | } 
\hline & \text { In billims of dallars } \
\hline \text { Consurngtion } & 3,600 \
\hline \text { Irvestment } & 800 \
\hline \text { Transfer payments } & 750 \
\hline \text { Government Purchases } & 1,000 \
\hline \text { Exports } & 650 \
\hline \text { Imports } & 450 \
\hline \text { Net foreign factor incorne } & - 30 \
\hline
\end{array}$$

Quizplus · Accepted Answer

GDP is calculated as the sum of Consumption, Investment, Government Purchases, and Net Exports (Exports - Imports), excluding Transfer Payments and Net Foreign Factor Income. Therefore, GDP = 3,600 (Consumption) + 800 (Investment) + 1,000 (Government Purchases) + (650 - 450) (Net Exports) = 5,600 billion dollars.

What Is the GDP Using the Table Shown A)5,570 B)5,600 C)6,050 D)6,320

What Is the GDP Using the Table Shown A)5,570
B)5,600
C)6,050
D)6,320