Question

According to the information presented in the table, what is the GDP for Genovia?

1) Consumption spending
2) Investment spending
3) Government spending
4) Net exports

Answer 1

The GDP for Genovia can be calculated by adding together the consumption spending, investment spending by businesses, government spending on goods and services, and net exports.

Step-by-step explanation:

The GDP for Genovia can be calculated by adding together the consumption spending, investment spending by businesses, government spending on goods and services, and net exports. According to the information presented in the table, Genovia's GDP would be the sum of these four components.

1. Consumption Spending: This refers to the total amount spent by individuals and households on goods and services in Genovia.
2. Investment Spending: This represents the total amount that businesses in Genovia invest in new capital, such as machinery and buildings.
3. Government Spending: This includes the sum of all purchases of goods and services made by the government of Genovia.
4. Net Exports: This is the difference between the value of exports and imports for Genovia.