In the economy of Talikastan in 2015,consumption was $600,exports were $300,GDP was $1300,government purchases were $250,and investment was $300.What were Talikastan's imports in 2015?

Question

Quizplus · Accepted Answer

To find imports, use the GDP formula: GDP = Consumption + Investment + Government Purchases + (Exports - Imports). Plugging in the values: $1300 = $600 + $300 + $250 + ($300 - Imports). Solving for Imports gives Imports = $150.

In the Economy of Talikastan in 2015,consumption Was $600,exports Were