na small economy, consumption spending is $7,500, government purchases are $2,200, gross investment is $500, exports are $2,100, and imports are $3,000. What is gross domestic product? O $9,300 O $15,300 O $11,100 O $12,300

na small economy, consumption spending is $7,500, government purchases are $2,200, gross investment is $500, exports are $2,100, and imports are $3,000. What is gross domestic product? O $9,300 O $15,300 O $11,100 O $12,300

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In a small economy, consumption spending is $7,500,
government purchases are $2,200, gross investment is
$500, exports are $2,100, and imports are $3,000. What is
gross domestic product?
$9,300
O $15,300
O $11,100
O $12,300

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F3.
The expenditure approach measures GDP by adding together Select one: O A. wages, salaries and supplementary labour income, and other factor incomes. O B. the total expenditures of consumers, firms, net exporters, and by governments at all levels. O C. wages, salaries and supplementary labour income, other factor income, subsidies paid by the government, indirect taxes paid, and income of nonfarm unincorporated businesses. the total expenditures of consumers and firms. compensation of employees, rental income, corporate profits, net interest, proprietors' income, indirect taxes paid, and capital consumption expenditures, and by subtracting subsidies paid by the government. O D. O E.
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