Final answer:
The Gross Domestic Product (GDP) of Country A is calculated using the formula for GDP which includes consumption, investment, government purchases, and net exports. The GDP comes out to be $3.03 trillion after substituting the given values for Country A's economic activities.
Step-by-step explanation:
To calculate the Gross Domestic Product (GDP) of Country A, we'll adhere to the formula GDP = C + I + G + (X - M), where C denotes consumption spending, I denotes business investment, G stands for government purchases, X represents export sales, and M signifies imports. Plugging in the values provided:
- C (Consumption spending) = $2,000 billion
- I (Business Investment) = $50 billion
- G (Government purchases) = $1,000 billion
- X (Export sales) = $20 billion
- M (Imports) = $40 billion
GDP = $2,000 billion + $50 billion + $1,000 billion + ($20 billion - $40 billion)
GDP = $2,000 billion + $50 billion + $1,000 billion - $20 billion
GDP = $3,030 billion or $3.03 trillion
The dollar value of GDP for Country A is thus $3.03 trillion.