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Elan Coil [88]
3 years ago
11

Suppose during the course of a year an economy produces $7 trillion of consumer goods, $1 trillion of investment goods, $5 trill

ion in government services, and has $1 trillion of exports and $2 trillion of imports. For that economy, GDP would be: A)$16 trillion. B) $14 trillion. C) $13 trillion. D) $12 trillion.
Business
1 answer:
In-s [12.5K]3 years ago
4 0

Answer:

D) $12 trillion.

Explanation:

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

GDP = Consumption + Investment + Government Spending + Net Export

Net Export = Export - Import

Net Export = $1 - $2 = -$1

GDP = $7 + $1 + $5 - $1 = $12

All calculations are in trillion

I hope my answer helps you.

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