If consumption is $12 billion, investment is $5 billion, government purchases are $6 billion, exports are $3 billion, and imports are $5 billion, calculate GDP.  (Do not include the dollar sign or billion in your answer.  So, if your answer is $35 billion, just write in 35 )

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...
icon
Related questions
Question

If consumption is $12 billion, investment is $5 billion, government purchases are $6 billion, exports are $3 billion, and imports are $5 billion, calculate GDP.  (Do not include the dollar sign or billion in your answer.  So, if your answer is $35 billion, just write in 35 )   

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Economics (MindTap Course List)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Macroeconomics
Macroeconomics
Economics
ISBN:
9781337617390
Author:
Roger A. Arnold
Publisher:
Cengage Learning
MACROECONOMICS FOR TODAY
MACROECONOMICS FOR TODAY
Economics
ISBN:
9781337613057
Author:
Tucker
Publisher:
CENGAGE L
Economics For Today
Economics For Today
Economics
ISBN:
9781337613040
Author:
Tucker
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning