Suppose that for the economy of Utopia, we have the following information for 2020: consumption expenditures = $5,000; wages = $3,500; gross private domestic investment = $1,200; government expenditures = $2,000; exports = $900; imports = $1,100. Using the expenditure approach what would the Gross Domestic Product (GDP) be for Utopia in 2020?
A. $8,400
B. $6,200
C. $8,000
D. $11,900
E. $11,500
Answer: C
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