In the economy of Talikastan in 2015,consumption was $3000,exports were $1200,GDP was $6300,government purchases were $1300,and investment was $1500.What were Talikastan's imports in 2015?

Question

Quizplus · Accepted Answer

To calculate imports we can use the equation: GDP = Consumption + Government Purchases + Investment + Exports - Imports
Substituting the given values we get, 
6300 = 3000 + 1300 + 1500 + 1200 - Imports
Therefore, Imports = 6300 - 3000 - 1300 - 1500 - 1200 = $700. 
Hence, the correct answer is (C).

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