In a small economy,consumption spending in 2013 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 2013?

Name: In a small economy,consumption spending in 2013 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 2013?
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Quizplus · Accepted Answer

GDP = C + G + I + (X - M) = 6000 + 1200 + 1500 + (2000 - 1000) = 9700

In a Small Economy,consumption Spending in 2013 Is $6,000,government Spending