Assuming that C = $6,200,I = $1,300,G = $1,100,Exports = $630,Imports = $750,and Depreciation = $600 (all in billions of dollars),GDP equals $7,880.

Question

Quizplus · Accepted Answer

The calculation for GDP using the expenditure approach is as follows:

GDP = C + I + G + (X-M)
GDP = 6,200 + 1,300 + 1,100 + (630 - 750)
GDP = 6,200 + 1,300 + 1,100 - 120
GDP = 8,480

Therefore, the given statement is False.

Assuming That C = $6,200,I = $1,300,G = $1,100,Exports =