When finding GDP algebraically,what is the final,unique equation that can be used? A) GDP = C + I^p + G + NX B) GDP = AE + NX + T C) GDP = C + I + G + NX D) GDP = Y + T + G E) GDP = C + I + NX

Question

Quizplus · Accepted Answer

The final, unique equation for finding GDP algebraically is GDP = C + I + G + NX, where C represents household consumption, I represents gross investment, G represents government spending, and NX represents net exports (exports - imports). This equation accounts for all the components of GDP and is widely used by economists and policymakers. Option A includes terms that are not commonly used or understood, while option B includes the term "AE" which is not a commonly used abbreviation for any component of GDP. Option D includes the term "Y" which is not a commonly used abbreviation for GDP. Option E does not include government spending (G), which is an important component of GDP. Therefore, option C is the best choice.

When Finding GDP Algebraically,what Is the Final,unique Equation That Can