In the economy of Talikastan in 2015,exports were $200,GDP was $2000,government purchases were $200,imports were $270,and investment was $500.What was Talikastan's consumption in 2015?

Question

Quizplus · Accepted Answer

Using the formula of GDP, we have: 
GDP = C + I + G + (X-M)
where:
C = consumption
I = investment
G = government purchases
X = exports
M = imports

Plugging in the given values:
$2000 = C + $500 + $200 + ($200 - $270)

Simplifying and solving for C:
$2000 = C + $30
C = $1970
Therefore, consumption in 2015 was $1370.

In the Economy of Talikastan in 2015,exports Were $200,GDP Was