Question

Gross Private Domestic Investment 75, U.S. Imports 22, Personal Consumption Expenditures 250, Consumption of Fixed Capital 25, Net Foreign Factor Income 10, Statistical Discrepancy 0. Refer to the accompanying data (all figures in billions of dollars). GDP is:________.

Answer 1

Answer: Gross Domestic Product (GDP) = 250 + 75 - 22 = $303 billion

Explanation:

Gross Private Domestic Investment 75

U.S. Imports 22

Personal Consumption Expenditures 250

Gross Domestic Product (GDP) = 250 + 75 - 22 = $303 billion