Household Consumption $6,400 U.S. Exports $500 Government Spending $2,200 U.S. Imports $700 Private Sector Investment $1,600 Use the hypothetical data (in billions of dollars) shown in Table 1., nominal GDP is equal to Answers: A. $10,000 B. $10,200 C. $10,400 D. $10,700

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 1SCQ: Country A has export sales of 20 billion, government purchases of 1,000 billion, business investment...
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Household Consumption   $6,400

U.S. Exports                            $500

Government Spending        $2,200

U.S. Imports                            $700

Private Sector Investment   $1,600

Use the hypothetical data (in billions of dollars) shown in Table 1., nominal GDP is equal to

 
 
Answers:
A. 

$10,000

 
B. 

$10,200

 
C. 

$10,400

 
D. 

$10,700

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