Thank you for visiting Suppose during the course of a year an economy produces 7 trillion of consumer goods 1 trillion of investment goods 5 trillion in government services. 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 :
Answer:
$12 trillion
Explanation:
GDP is the sum total of the wealth produced in a country over a given period of time, usually one year. GDP is calculated using the following formula: GDP = C + I + G + (X-M) where C = Consumption, I = Investments, G = Government Expenditure, (X-M) = Trade Balance, wich means exports minus imports.
Applying the exercise values in the formula, we have (in trillions):
GDP = 7 + 1 + 5 + (1-2) = 12
Therefore, GDP will be $ 12 trillion.
Thank you for reading the article Suppose during the course of a year an economy produces 7 trillion of consumer goods 1 trillion of investment goods 5 trillion in government services. We hope the information provided is useful and helps you understand this topic better. Feel free to explore more helpful content on our website!
- You are operating a recreational vessel less than 39 4 feet long on federally controlled waters Which of the following is a legal sound device
- Which step should a food worker complete to prevent cross contact when preparing and serving an allergen free meal A Clean and sanitize all surfaces
- For one month Siera calculated her hometown s average high temperature in degrees Fahrenheit She wants to convert that temperature from degrees Fahrenheit to degrees
Rewritten by : Jeany
