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Answer :
If Gross Domestic Product (GDP) equals $2theta trillion, consumption equals $13 trillion, investment equals $3.5 trillion, and government spending equals $4 trillion, then B. Imports exceed exports by $0.5 trillion.
To determine whether exports exceed imports, imports exceed exports, exports equal imports, or none of the above based on the given GDP, consumption, investment, and government spending, we can use the GDP formula:
GDP = Consumption + Investment + Government Spending + Exports - Imports
Given:
GDP = $2 trillion
Consumption = $13 trillion
Investment = $3.5 trillion
Government Spending = $4 trillion
We can rewrite the GDP formula as:
$2 trillion = $13 trillion + $3.5 trillion + $4 trillion + Exports - Imports
Now, substitute the values:
$2 trillion = $20.5 trillion + Exports - Imports
To solve for Exports - Imports:
Exports - Imports = $2 trillion - $20.5 trillion
Exports - Imports = -$18.5 trillion
Since the result is negative, it means that imports exceed exports by $18.5 trillion.
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Rewritten by : Jeany
