Exhibit 11-11 GDP data (billions of dollars)
Personal consumption expenditures$4,750
Exports810
Government spending1,400
Social Security taxes600
Depreciation450
Indirect business taxes550
Imports850
Gross private domestic investment900
Corporate income taxes200
Personal taxes800
Corporate profits50
Transfer payments700
In Exhibit 11-11, and using the expenditures approach, gross domestic product (GDP) equals:
A. $7,010 billion.
B. $10,360 billion.
C. $9,660 billion.
D. $7,860 billion.
Answer: A
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