Thank you for visiting Suppose during the course of a year an economy produces 7 trillion of consumer goods 1 trillion of investment goods 5 trillion in government services. 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 :
Answer:
D) $12 trillion.
Explanation:
GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.
GDP = Consumption + Investment + Government Spending + Net Export
Net Export = Export - Import
Net Export = $1 - $2 = -$1
GDP = $7 + $1 + $5 - $1 = $12
All calculations are in trillion
I hope my answer helps you.
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Rewritten by : Jeany
