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Answer :
Final answer:
The GDP of the United States in 2018, based on the provided data, is calculated by summing the values of consumption, investment, government spending, and net exports, which amounts to $18 trillion. The correct option is C.
Explanation:
In 2018, the United States exhibited a Gross Domestic Product (GDP) of $18 trillion. This sum is derived by combining three primary components of economic activity: consumption, investment, and government spending. Consumption, representing the expenditures by households on goods and services, amounted to $12 trillion.
Investment, encompassing business expenditures on capital goods, structures, and inventory, accounted for an additional $3 trillion. Government spending, reflecting the total expenditures made by the government on public goods and services, also stood at $3 trillion.
The GDP formula, which considers the sum of consumption (C), investment (I), government spending (G), and net exports (exports - imports), simplifies to GDP = C + I + G when net exports are zero. Applying this formula to the given values, the GDP of the United States in 2018 was $18 trillion.
However, to calculate GDP per capita, we need to divide the GDP by the population of the country. Unfortunately, the provided information does not include the population figure, rendering it impossible to determine the GDP per capita. GDP per capita is a crucial metric as it indicates the average economic output per person in the country.
In conclusion, the GDP of the United States in 2018 was $18 trillion, comprising substantial contributions from consumption, investment, and government spending. While the given data allows us to ascertain the total economic output, the absence of population information prevents the calculation of GDP per capita, a key indicator for understanding the economic well-being of individuals within the nation.
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