The table given below states the value of the GDP and the different components of aggregate expenditure for two years.?

-Refer to Table 10.1. What is the level of imports in year 2, if the economy is in equilibrium?

Question

The table given below states the value of the GDP and the different components of aggregate expenditure for two years.?
 
-Refer to Table 10.1. What is the level of imports in year 2, if the economy is in equilibrium?

Quizplus · Accepted Answer

To find the level of imports in year 2, we can use the equation Y = C + I + G + NX, where Y is GDP, C is consumption expenditure, I is investment expenditure, G is government expenditure, and NX is net exports. 
Plugging in the values for year 2, we get: 
$2,000 = $1,400 + $200 + $400 + NX
Simplifying, we get: 
NX = $2,000 - ($1,400 + $200 + $400) = $100
Therefore, the level of imports in year 2 is $100. Since NX is negative (meaning there is a trade deficit), imports are greater than exports.

The Table Given Below States the Value of the GDP