Last year in a small economy, consumption spending was $12,000, investment spending was $3,500, government spending was $4, 000, exports were $1,150, and imports were $1,350. What was GDP for this economy last year?
What will be an ideal response?
GDP was $12,000 + $3,500 + $4,000 + ($1,150 - $1,350 ) = $19,300.
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In the table above, what inflation rate belongs in space E?
A) 17.0 percent B) 6.8 percent C) 8.3 percent D) 15.4 percent
In cities with rent control, people have an incentive to list their apartments on sites such as Airbnb at rents ________ the controlled rates, because rent control causes a ________ of apartments
A) above; surplus B) below; surplus C) above; shortage D) below; shortage
The current chair of the Board of Governors of the Federal Reserve System is
A) Janet Yellen. B) Alan Greenspan. C) Ben Bernanke. D) Paul Volcker.
In which of the following assets are commercial banks in the United States NOT allowed to invest checkable deposits?
A) home mortgages B) corporate bonds C) municipal bonds D) U.S. Treasury bonds