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malfutka [58]
2 years ago
9

Measuring GDP

Business
1 answer:
Ymorist [56]2 years ago
4 0

Answer:

$-625.4 billion

$20,494 billion

Explanation:

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

2531.3 - 3,156.7 = $-625.4 billion

GDP =  13,948.5 +  3,650.1 +  3,520.8 - $-625.4 = $20,494 billion

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