In the economy of Talikastan in 2015,consumption was $3000,GDP was $5500,government purchases were $1000,imports were $1000,and investment was $1000.What were Talikastan's exports in 2015?

Question

Quizplus · Accepted Answer

Using the formula for calculating GDP:
GDP = Consumption + Investment + Government purchases + Exports - Imports

We can rearrange this formula to solve for Exports:
Exports = GDP - Consumption - Investment - Government purchases + Imports

Plugging in the values given in the question:
Exports = $5500 - $3000 - $1000 - $1000 + $1000
Exports = $1500

Therefore, the answer is (C) $1500.

In the Economy of Talikastan in 2015,consumption Was $3000,GDP Was