Question

Suppose the total monetary value of all final goods and services produced in a particular country in 2010 is $500 billion and the total monetary value of final goods and services sold is $450 billion. We can conclude that:

Answer 1

Answer:

) GDP in 2010 is $500 billion.

Explanation:

Here are the options to this question :

GDP in 2010 is $450 billion.

b) NDP in 2010 is $450 billion.

c) GDP in 2010 is $500 billion.

d) inventories in 2010 fell by $50 billion.

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports