Question

So I know the equation for GDP is consumers+investement+Goverment spending +(X-M). but could someone break down what qualfies as cosumer,investment,goverment spending? and then solve ?

Answer the question on the basis of the following national income data for the economy. All figures are in billions of dollars. Personal Consumption Expenditures $400 Government Purchases 128 Gross Private Domestic Investment 88 Net Exports Net Foreign Factor Income Consumption of Fixed Capital Taxes on Production and Imports Compensation of Employees 369 Rents Interest Proprietors' Income Corporate Income Taxes Dividends Undistributed Corporate Profits Statistical Discrepancy The gross domestic product for the above economy is: O $584. O $609 $592 O $623 References

Answer 1

GDP= censumphren + gauimment experdihone + Govurment puchay + Imeshrunt + Net eapat = Perseral Canumphen exp. + hrors Privatr lomure invushment + + Net expas (400 +128 +88+7) 4623