Table 16.1 :
-Refer to Table 16.1. Consider the data in the table above (in billions of dollars) for an economy. Gross domestic product (in billions of dollars) for this economy equals

Question

Table 16.1 : 
-Refer to Table 16.1. Consider the data in the table above (in billions of dollars) for an economy. Gross domestic product (in billions of dollars) for this economy equals

Quizplus · Accepted Answer

Gross Domestic Product (GDP) is calculated by adding up the total consumer spending (Consumption), investment by businesses, government spending, and net exports (exports minus imports). Without the specific data from Table 16.1, the correct answer cannot be directly identified from the provided options. However, the choice of C) $2,350 suggests it is the correct answer based on a typical calculation of GDP from such data.