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Answer :
Final answer:
In this instance, the GDP, calculated by the formula GDP = Consumption + Investment + Government Spending + (Exports - Imports), would equal $10 trillion, given the stated amounts of consumer goods, investment goods, government services, and net exports.
Explanation:
The GDP (Gross Domestic Product) of an economy is calculated by the formula: GDP = Consumption + Investment + Government spending + (Exports – Imports), often represented as C+I+G+ (X-M). Let's apply this formula to the figures you provided:
- Consumption (C): $6 trillion (consumer goods)
- Investment (I): $1 trillion (investment goods)
- Government Spending (G): $2 trillion (government services)
- Net Exports (X-M): $3 trillion (exports) - $2 trillion (imports) = $1 trillion
So, GDP = C + I + G + (X - M) = $6 trillion + $1 trillion + $2 trillion + $1 trillion = $10 trillion. Thus, none of the options you listed are correct. The GDP in this case is $10 trillion.
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