In the economy of Ukzten in 2010, consumption was $5000, exports were $100, government purchases were $900, imports were $200, and investment was $1000. What was Ukzten's GDP in 2010?

Question

Quizplus · Accepted Answer

GDP is calculated as the sum of consumption, investment, government purchases, and net exports (exports minus imports). Therefore, GDP = $5000 (consumption) + $1000 (investment) + $900 (government purchases) + ($100 (exports) - $200 (imports)) = $6800.

In the Economy of Ukzten in 2010, Consumption Was $5000