Which of the following is the formula for an open economy's GDP?
A)Y = C + I + G
B)Y = C + I + G + T
C)Y = C + I + G + S
D)Y = C + I + G + NX

Name: Which of the following is the formula for an open economy's GDP? A)Y = C + I + G B)Y = C + I + G + T C)Y = C + I + G + S D)Y = C + I + G + NX
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In an open economy, we need to add the net exports (NX) to the formula of GDP calculation. Therefore, the correct formula is Y = C + I + G + NX.

Which of the Following Is the Formula for an Open