The data for a hypothetical economy in a given year are as follows: 17 Value $70 billion $30 billion -$10 billion $30 billion $8 billion $35 billion Category Personal consumption expenditures Purchases of stocks and bonds Net exports Government purchases Sales of second-hand items Gross investment What is the country's GDP for the year? billion

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A:

Q: Personal consumption expenditures $5,850 Exports 750 Government spending 1,800 Social Security…

A: 1. Gross Domestic Product (GDP)=C+I+G+X-M=5850+1200+1800+(750-1150)=$8450

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