How do I solve this? I cant seem to get ir right
Homework Answers
Correct option is C. $309.
Gross domestic product (GDP) is the final value of all the goods and services produced in an economy during a year. We can calculate GDP using the expenditure method as follows:
GDP=C+ I+ G + X- M
where,
C=Consumption
I=Investment
G=Government purchases
X=Exports
M=Imports
We can calculate consumption by subtracting personal saving from disposable income.
Consumption=Disposable income-Personal Saving=$190-$10=$180
So, the gross domestic product is
GDP=Consumption + Gross Investment + Government current purchases of goods & services + Exports of Canada - Imports of Canada
GDP=$180+$46+$84+$9-$10=$309.
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How do I solve this? I cant seem to get ir right
Refer to the information...
macroeconomics
Gross Private Domestic Investment$46Exports of the U.S.9Disposable Income190Personal Saving10Government Purchases84Net Foreign Factor Income10Consumption of Fixed Capital52Dividends13Imports of the U.S.12Taxes on Production and Imports22Personal Taxes38Social Security Contributions23Statistical Discrepancy0 Refer to the accompanying data. All figures are in billions of dollars. Personal income isMultiple Choice$184.$221.$149.$228.
macroeconomics
Personal Taxes$23Net Private Domestic Investment33Net Exports6National Income278U.S. Exports20Gross Private Domestic Investment56Disposable Income220Taxes on Production and Imports32Undistributed Corporate Profits15Proprietors' Income45Net Foreign Factor Income0Statistical Discrepancy0 Refer to the accompanying national income data. All figures are in billions of dollars. Consumption of fixed capital (private sector) is
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