Question

Calculate GDP for an economy with exports of $5 trillion, investment of $1.5 trillion, consumption spending of $11 trillion, imports of $6 trillion, and government purchases of $3 trillion

Answer 1

Answer:

$14.5 trillion

Explanation:

Data provided

Exports = $5 trillion

Investment = $1.5 trillion

Consumption spending = $11 trillion

Imports = $6 trillion

Government purchases = $3 trillion

The computation of GDP for an economy is shown below:-

Exports + Investment + Consumption spending + Government purchases - Imports

= $5 trillion + $1.5 trillion + $11 trillion + $3 trillion - $6 trillion

= $14.5 trillion