Thank you for visiting Consider the information about the economy of Pakistan Note that the currency of Pakistan is the rupee Government purchases 3 30 trillion rupees Individuals consume. 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 :
To calculate Pakistan's GDP, we use the expenditure approach, which sums up the expenditures made on final goods and services within the economy. The formula for GDP using the expenditure approach is:
[tex]\[ GDP = C + I + G + (X - M) \][/tex]
Where:
- \( C \) is consumption expenditure by individuals
- \( I \) is investment expenditure by businesses
- \( G \) is government expenditure on goods and services
- \( X \) is exports
- \( M \) is imports
Given the information provided:
\[ C = 8.20 \text{ trillion rupees} \]
\[ I = 1.30 \text{ trillion rupees} \]
\[ G = 3.30 \text{ trillion rupees} \]
\[ X = 1.37 \text{ trillion rupees} \]
\[ M = 2.28 \text{ trillion rupees} \]
Now, let's substitute these values into the GDP formula:
Therefore, Pakistan's GDP is approximately 11.89 trillion rupees.
However, none of the provided options match this calculation. Let's recheck the calculations:
\[ GDP = 8.20 + 1.30 + 3.30 + (1.37 - 2.28) \]
\[ GDP = 12.80 + (-0.91) \]
\[ GDP = 11.89 \text{ trillion rupees} \]
When rounded to two decimal places, Pakistan's GDP is approximately 11.89 trillion rupees.
Therefore, none of the provided options match the calculated GDP. It seems there might be an error in the options provided or in the calculations given. The correct GDP is approximately 11.89 trillion rupees, which is not listed among the provided options.
The complete ques is :
Consider the information about the economy of Pakistan. Note that the currency of Pakistan is the rupee.
The government purchases: 3.30 trillion rupees.
Individuals consume: 8.20 trillion rupees.
Individuals save: 5.34 trillion rupees.
Businesses invest: 1.30 trillion rupees.
Foreigners spend: 0.61 trillion rupees to purchase Pakistani firms.
Pakistan imports: 2.28 trillion rupees.
Pakistan exports: 1.37 trillion rupees.
Calculate Pakistan's GDP. Assume that the values are all current and no conversions need to be made. Give your answer in terms of trillions of rupees and round to two decimals.
a) 16.92 trillion rupees
b) 15.84 trillion rupees
c) 14.85 trillion rupees
d) 13.97 trillion rupees
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Final answer:
After calculating the components of Pakistan's GDP by adding government purchases, individual consumption, business and foreign investments, and subtracting net imports from exports, the GDP is found to be 12.50 trillion rupees. This value does not match any of the options provided, indicating a potential error in the initial question or options. The correct multiple-choice option is (d).
Explanation:
To calculate Pakistan's Gross Domestic Product (GDP), we need to sum up government purchases, individual consumption, investment (both business investments and foreign investments in Pakistani firms), and net exports (exports minus imports). The formula to calculate GDP is: GDP = Government Purchases + Individual Consumption + Investment + Net Exports.
Based on the information provided:
- Government purchases: 3.30 trillion rupees
- Individual consumption: 8.20 trillion rupees
- Business investment: 1.30 trillion rupees
- Foreign investment in Pakistani firms: 0.61 trillion rupees
- Exports: 1.37 trillion rupees
- Imports: -2.28 trillion rupees (since imports are subtracted from exports to calculate net exports)
The calculation for Net Exports is: 1.37 trillion rupees - 2.28 trillion rupees = -0.91 trillion rupees.
Adding them all together:
GDP = 3.30 + 8.20 + 1.30 + 0.61 - 0.91 = 12.50 trillion rupees.
Looking at the original options provided in the question, none of them matches the calculated value. Therefore, it seems there might have been an error in the calculation process described in the question or in understanding the options. According to our calculation using the provided data, the GDP should be 12.50 trillion rupees. It's important to double-check all inputs and the calculation process for accuracy.
