Question

Consider the data above (in billions of dollars) for an economy: Gross domesticproduct (in billions of dollars) for this economy equals6)A)$2,200.B)$1,600.C)$1,400.D)$1,200.

Answer 1

Answer:

D) $1,200

Explanation:

Following is the data that was missing from the question.

Consumption expenditures $800

Investment expenditures $200

Government purchases $300

Exports $100

Imports $200

Wages $800

Consumption expenditures + Investment expenditures + Government purchases + (Difference between Exports and Imports)  

=  $800  +  $200  + $300 + ( $100 - $200 )

=   $1,200