Look at the following data: GDP = $3,590 billion; consumption = $1,820 billion; exports = $450 billion; investment = $1,250 billion; government purchases = $900 billion.Imports is equal to __________ billion.

Question

Quizplus · Accepted Answer

GDP is calculated as consumption + investment + government purchases + (exports - imports). Solving for imports: $3,590 = $1,820 + $1,250 + $900 + ($450 - imports), imports = $830 billion.

Look at the Following Data: GDP = $3,590 Billion; Consumption