If consumption equals $6,200 billion, investment equals $1,200 billion, transfer payments equal $1,500 billion, government purchases equal $2,200 billion exports equal $900 billion imports equal $1,100 billion foreign factor income equals $200 billion Then GDP is equal to: Group of answer choices $11,100 billion $9,600 billion $10,900 billion $9,400 billion

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A: GDP Gross domestic product (GDP) is the accepted unit of measurement for the value added produced…

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Q: Give step by step answer with final solution Don't use AI

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A: GDP by Expenditure Method = Consumption + Gross Investments + Government Expenditure + Net Exports…

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A: GDP is the value of final goods and services produced in the economy within a given period of time.

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Q: Which of the following statements best describe how economists calculate GDP? Group of answer…

A: Gross domestic product is one of the methods of national income accounting.

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Q: If consumption expenditure is $30 billion, investment spending is $15 billion, government spending…

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A: here we calculate the GDP which are as follow-

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