In the economy of wrexington in 2008, consumption was $1000, exports were $100, government purchases were $450, imports were $15

Question

zheka24 [161]

2 years ago

15

In the economy of wrexington in 2008, consumption was $1000, exports were $100, government purchases were $450, imports were $15

0, and investment was $350. What was wrexington’s gdp in 2008?
A) $970B) $1230C) $1370D) $1630

Business

1 answer:

zhuklara [117] · Answer 1 · 2023-07-30T09:57:59+03:00

In the economy of Wrexington in 2008, consumption was $1000, exports were $100, government purchases were $450, imports were $150, and investment was $350, then

⇒$1750, was Wrexington's GDP in 2008

(add all, subtract 150 which is the imports)

GDP = personal consumption + gross investment + government consumption + net exports of goods and services

Personal Consumption

Gross Investment

Government Consumption

Exports

Imports

GNP = employee compensation + proprietors' income + rental income + corporate profits + interest income

GDP = GNP + indirect business taxes + depreciation + net income of foreigners*

Hence, option A is correct.

To learn more about GDP here

brainly.com/question/15682765

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