The following are national income account data for a hypothetical economy in billions of dollars: government purchases ($1,050) , personal consumption expenditures ($4,800) , imports ($370) ,
Exports ($240) , and gross private domestic investment ($1,130) . What is GDP for this economy?
A) $7,220 billion
B) $6,980 billion
C) $6,850 billion
D) $6,610 billion
Correct Answer:
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Q209: Net exports is a positive number when
A)
Q210: Q211: In an economy that is experiencing a Q212: If inflows to the capital stock are Q213: The consumption of fixed capital in each Q215: A nation's capital stock was valued at Q216: The expenditures or output approach to GDP Q217: In an economy that has stationary production Q218: A distinguishing characteristic of public transfer payments Q219: GDP in an economy is $11,050 billion.
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