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3. Calculating GDP using national income account data The following table shows data on consumption, investment, exports, imports, and government expenditures for a hypothetical country in 2021, as published by the relevant government agency. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components Consumption (C) Investment (I) Exports (X) Imports (M) Net exports of goods and services (NX) Government purchases (G) Gross domestic product (GDP) $10,417.1 $1,818 $1,935.3 $2,435.5 $3,020.2 This method of calculating GDP, which involves summing the approach. , is called the

3. Calculating GDP using national income account data The following table shows data on consumption, investment, exports, imports, and government expenditures for a hypothetical country in 2021, as published by the relevant government agency. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components Consumption (C) Investment (I) Exports (X) Imports (M) Net exports of goods and services (NX) Government purchases (G) Gross domestic product (GDP) $10,417.1 $1,818 $1,935.3 $2,435.5 $3,020.2 This method of calculating GDP, which involves summing the approach. , is called the

ECON MACRO
ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter6: Tracking The U.s. Economy
Section: Chapter Questions
Problem 1.2P
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3. Calculating GDP using national income account data The following table shows data on consumption, investment, exports, imports, and government expenditures for a hypothetical country in 2021, as published by the relevant government agency. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components Consumption (C) Investment (I) Exports (X) Imports (M) Net exports of goods and services (NX) Government purchases (G) Gross domestic product (GDP) $10,417.1 $1,818 $1,935.3 $2,435.5 $3,020.2 This method of calculating GDP, which involves summing the ▼ approach. , is called the
Transcribed Image Text:3. Calculating GDP using national income account data The following table shows data on consumption, investment, exports, imports, and government expenditures for a hypothetical country in 2021, as published by the relevant government agency. All figures are in billions of dollars. Fill in the missing cells in the following table to calculate GDP. Components Consumption (C) Investment (I) Exports (X) Imports (M) Net exports of goods and services (NX) Government purchases (G) Gross domestic product (GDP) $10,417.1 $1,818 $1,935.3 $2,435.5 $3,020.2 This method of calculating GDP, which involves summing the ▼ approach. , is called the
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