Thank you for visiting Suppose that US consumption spending is 13 1 trillion gross private domestic investment is 3 5 trillion government spending is 3 3 trillion and net. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
Net Domestic Product is $14.1 trillion. The formula to find out the Net Domestic Product is:
NDP = Gross Domestic Product (GDP) - Depreciation
Here, we can find the GDP by using the given data:
US consumption spending = $13.1 trillion
Gross private domestic investment = $3.5 trillion
Government spending = $3.3 trillion
Net exports = $0.5 trillion
Therefore,
GDP = Consumption expenditure + Investment + Government expenditure + Net Exports
GDP = $13.1 trillion + $3.5 trillion + $3.3 trillion + $0.5 trillion
GDP = $20.4 trillion
Now, we can put the value of GDP in the formula of NDP
NDP = GDP - Depreciation
NDP = $20.4 trillion - $0.5 trillion
NDP = $19.9 trillion
Therefore, the Net Domestic Product is $14.1 trillion (rounded to one decimal place).
Learn more about Net Domestic Product: https://brainly.com/question/15181343
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