Consumption equals 2 trillion plus 0.8 times disposable income.
Investment equals 5 trillion.
Government spending equals 4 trillion in total, of which Social Security and other transfers equal 2 trillion.
Taxes equal 3 trillion.
Exports equal 2 trillion.
Imports equal 1 trillion.

Calculate GDP in trillions, to one decimal point.

Question

26-02-2024
Business

High School

Thank you for visiting Consumption equals 2 trillion plus 0 8 times disposable income Investment equals 5 trillion Government spending equals 4 trillion in total of which Social Security. 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!

Consumption equals 2 trillion plus 0.8 times disposable income.
Investment equals 5 trillion.
Government spending equals 4 trillion in total, of which Social Security and other transfers equal 2 trillion.
Taxes equal 3 trillion.
Exports equal 2 trillion.
Imports equal 1 trillion.

Calculate GDP in trillions, to one decimal point.

Answer :

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RoseDavidson RoseDavidson · Answer 1 · 2023-11-25T02:20:13-05:00

To calculate GDP in trillions with the given data, we will use the GDP formula: GDP = Consumption + Investment + Government Spending + (Exports - Imports).

1. Consumption: Consumption equals 2 trillion .8 times disposable income.

Since disposable income is not provided, we cannot calculate the consumption value. Please provide the disposable income to determine consumption.

2. Investment: Investment equals 5 trillion.

3. Government Spending: Government spending equals 4 trillion.

4. Net Exports: Exports equal 2 trillion and imports equal 1 trillion. To find net exports, subtract imports from exports: 2 trillion - 1 trillion = 1 trillion.

Once we have the consumption value (based on the provided disposable income), we can then use the GDP formula to calculate the GDP in trillions to one decimal point.

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