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Answer :
Final Answer:
In 2045, if our nation's consumption were $49 trillion, estimate our GDP. would be b) $98 trillion. Thus the correct option is b) $98 trillion.
Explanation:
To estimate the GDP when the nation's consumption is $49 trillion in 2045, we need to consider the expenditure approach to GDP calculation. GDP is typically calculated by summing up consumption, investment, government spending, and net exports. In this case, the nation's consumption represents a part of the GDP, but we must account for other components to determine the total GDP.
Without information on the other components, we can't provide an exact figure. However, it's safe to say that the GDP will be greater than the consumption, given the other components. So, the GDP should be more than $49 trillion.
To get a ballpark estimate, we can consider a simplified scenario where consumption is the only factor contributing to GDP, which is unlikely but helps provide an approximate figure.
In this case, the GDP would be $49 trillion, which aligns with option (a). Nevertheless, a more accurate estimation would consider investment, government spending, and net exports, and thus, the GDP would likely be substantially higher than the consumption, making option (b) - $98 trillion, a more reasonable estimate. Thus the correct option is b) $98 trillion.
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