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-BARSIC- [3]
3 years ago
5

Suppose during a year an economy produces $10 trillion of consumer goods, $4 trillion of investment goods, $6 trillion in govern

ment services, and has $4 trillion of exports and $5 trillion of imports. GDP would be Multiple Choice $19 trillion. $21 trillion. $24 trillion. $29 trillion.
Business
1 answer:
Svetlanka [38]3 years ago
5 0

Answer:

The correct answer is $19 trillion

Explanation:

Gross Domestic Product (GDP) is the total market or monetary value of all the goods and services produced by a country within its borders over a given period of time. It is used as a measure of a country's economic health, due to its broad coverage.

The formula for calculating GDP is: GD P  =  C  +  I  +  G  +  ( X  −  M )

where :

C = private consumption (consumer goods)

I = gross investments (investment goods)

G = government investments or government spending (govt. services)

X = export

M = import

Therefore:

GDP (in trillion) = 10 + 4 + 6 + (4 - 6) = 10 + 10 - 1 = $19 trillion dollars.

Please note that there is the nominal GDP and real GDP.

Nominal GDP is the total value of all the final goods and services a country produces within a year, while real GDP is the value of the goods and services produced within a year, putting inflation effects into account.

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Answer:

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Explanation:

Giving the following information:

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slavikrds [6]

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According to the given question, we are asked to state the required components of a<em> database function </em>and how this is essential for the database to function properly.

<em />

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3 years ago
V8 juice has for years advertised itself as a refreshing and nutritional drink that contains eight different vegetables, and tha
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