Question

GDP for this economy is _____. rev: 04_09_2018 Multiple Choice $6,400 billion $7,500 billion $9,400 billion $10,470 billion

Answer 1

b. $7,500 billion

Step-by-step explanation:

Note: The complete question is attached as picture below

GDP = C + I + G + X - M

GDP = Consumption + Investment + Government purchases + Exports - Imports

GDP = $5,100 + $1,100 + $1,400 + $850 - $950

GDP = $7,500 billion.

Hence, the GDP for this economy is $7,500 billion.