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katrin [286]
3 years ago
10

In a small​ economy, consumption spending is​ $6,000, government purchases are​ $1,200, gross investment is​ $1,500, exports are

​ $2,000, and imports are​ $1,000. What is gross domestic​ product?
Business
2 answers:
Karo-lina-s [1.5K]3 years ago
5 0

Answer:

$9700

Explanation:

Given that

C = 6000

G = 1200

I = 1500

X= 2000

M = 1000

Recall that,

GDP = C + I + G + ( X - M)

therefore

GDP = 6000 +1500 + 1200 + (2000 - 1000)

= 8700 + 1000

= 9700

Therefore, GDP = $9,700

Elena-2011 [213]3 years ago
4 0

Answer:

$9,700

Explanation:

GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.

Gross domestic product = Consumption spending + Investment spending + Government Spending + Net Export

Net Export = export - import

$2,000 - $1000 = $1000

$6,000 +$1,200+ $1,500 + $1000 = $9,700

I hope my answer helps you

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The following T-account is a summary of the cash account of Kingbird Company. Cash (Summary Form) Balance, Jan. 1 7,200 Receipts
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Answer:

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5 0
3 years ago
"If I didn't have class tonight, I would save the $4 campus parking fee and spend four hours at work where I earn $10 per hour."
Allushta [10]

Answer:

total opportunity cost is $44

Explanation:

given data

parking fee = $4

earn = $10 per hour

time = 4 hour

to find out

opportunity cost

solution

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earning = earn × time

earning = 10 × 4

earning in 4 hours = $40

and

saving = $4

so total opportunity cost = saving + earning

total opportunity cost = $4 + $40

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8 0
3 years ago
On February 1, Alan, a single individual, purchased his first personal residence for $400,000. On July 1, Alan sold this residen
zavuch27 [327]

Answer:

Recognized gain = $60000

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Below is the calculation:

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2 years ago
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