Question

in 2018 country A exported $1.237 billion and imported products valued at $5.552 billion. country A had a

Answer 1

The dollar value of GDP for Country A is $3,070 billion.

Step-by-step explanation:

Gross Domestic Product (GDP) is the total value of all final goods and services produced within a country's borders in a specific time period. To calculate the GDP, we add up the four components: consumption spending, investment expenditure, government purchases, and exports minus imports. In this case, consumption spending is $2,000 billion, business investment is $50 billion, government purchases is $1,000 billion, exports are $20 billion, and imports are $40 billion.

Using the formula GDP = Consumption Spending + Investment Expenditure + Government Purchases + (Exports - Imports), we can calculate the GDP:

• GDP = $2,000 billion + $50 billion + $1,000 billion + ($20 billion - $40 billion)
• GDP = $2,000 billion + $50 billion + $1,000 billion - $20 billion + $40 billion
• GDP = $3,070 billion