Thank you for visiting Suppose the following data are for the United States in 2021 Personal consumption expenditures C 17 trillion Gross private domestic investment I 4 trillion Government. 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 :
Final answer:
The Gross Domestic Product (GDP) for the United States in 2021 can be calculated as $26 trillion. None of the options mentioned are correct.
Explanation:
The Gross Domestic Product (GDP) of a country is calculated using the formula: GDP = C + I + G + (X - M), where C is Personal Consumption Expenditures, I is Gross Private Domestic Investment, G is Government consumption expenditures and gross investment, and (X - M) is Net exports of goods and services.
Based on the data provided for the United States in 2021, we have:
- Personal Consumption Expenditures (C) = $17 trillion
- Gross Private Domestic Investment (I) = $4 trillion
- Government consumption expenditures and gross investment (G) = $4 trillion
- Net exports of goods and services (Nâ‚“) = $1 trillion
To calculate the GDP, we add these figures together:
GDP = C + I + G + Nâ‚“
GDP = $17 trillion + $4 trillion + $4 trillion + $1 trillion
GDP = $26 trillion
Therefore, the correct choice from the given options is not listed since the result is $26 trillion.
Thank you for reading the article Suppose the following data are for the United States in 2021 Personal consumption expenditures C 17 trillion Gross private domestic investment I 4 trillion Government. We hope the information provided is useful and helps you understand this topic better. Feel free to explore more helpful content on our website!
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Rewritten by : Jeany
