If the total GDP in 2011 was $1302 billion, where consumption expenditure equals $713 million, investment = $285 million, government = $308, the net exports would:
A)be 0.4% of the total GDP
B)equal $5 million
C)both a and b
D)have been negative as import spending is greater than export receipts

Question

Quizplus · Accepted Answer

Net exports are calculated as GDP minus the sum of consumption, investment, and government spending. Here, $1302 billion - ($713 million + $285 million + $308 million) results in a negative value, indicating that import spending is greater than export receipts.

If the Total GDP in 2011 Was $1302 Billion, Where