Question

Please help solve this

Answer 1

The Gross Domestic Product of the territory is $ 172 million.

Step-by-step explanation:

The Gross Domestic Product (GDP), measured in monetary units, is the market value of all goods and services within a territory in a given period of time, usually annual, which is estimated by the following expression:

`GDP = C+BI+GEx+GEn+E-I` (1)

Where:

`C` - Consumption.

`BI` - Business investments.

`GEx` - Government expenditures.

`GEn` - Government entitlements.

`E` - Exports.

`I` - Imports.

Please notice that positive sign represents money that has entered into the economy of the territory.

If we know that
`C = 50* 10^(6)`,
`BI = 10* 10^(6)`,
`GEx = 75* 10^(6)`,
`GEn = 38* 10^(6)`,
`E = 12* 10^(6)` and
`I = 13* 10^(6)`, then the GDP of the territory is:

`GDP = 50* 10^(6)+10* 10^(6) + 75* 10^(6)+38* 10^(6)+12* 10^(6)-13* 10^(6)`

`GDP = 172* 10^(6)`

The Gross Domestic Product of the territory is $ 172 million.