Solved

In a Small Economy, Consumption Spending in 2018 Is $6

Question 54

Multiple Choice
In a small economy, consumption spending in 2018 is $6 000, government spending is $1 200, gross investment is $1 500, exports are $2 000, and imports are $1 000. What is gross domestic product in 2018?

In a small economy, consumption spending in 2018 is $6 000, government spending is $1 200, gross investment is $1 500, exports are $2 000, and imports are $1 000. What is gross domestic product in 2018?


A) $9 700
B) $9 800
C) $10 800
D) $11 700

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q49: Suppose that the following table represents the

Q50: What is usually the smallest component of

Q51: Debbie makes porcelain plates in her home

Q52: What is the largest component of GDP

Q53: What is meant by 'intermediate goods' and

Q55: The following table illustrates the value added

Q56: If Anton sells his 2004 Honda Accord

Q57: Explain the difference between 'gross domestic product'

Q58: Macroeconomics is the study of how households

Q96: Government spending on transfer payments is included

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents