Question

Calculate total GDP for this economy given the following components of supply. Components of GDP on the Supply Side (in trillions of dollars) Durable goods 3.3 Nondurable goods 2.3 Services 11.6 Structures 1.8 Change in inventories 0 Total

Answer 1

Answer:

Total GDP (in trillions of dollars) = 19 trillion dollar

Explanation:

Given:

Durable goods = 3.3

Non-durable goods = 2.3

Services = 11.6

Structures = 1.8

Change in inventories = 0

Computation Of total GDP (from Supply side)

Total GDP = Durable goods + Non-durable goods + Services + Structure + Change in inventory

Total GDP (in trillions of dollars) = 3.3 + 2.3 + 11.6 + 1.8 + 0

Total GDP (in trillions of dollars) = 19 trillion dollar