Answer question 17 Question 17Given the following macroeconomics data: Which is the value of the Gross Domestic Product?Consumer expenditure£70 millionInvestment expenditure£20 millionGovernment expenditure£40 millionExports£20 millionImports£30 millionNet income from abroad£10 millionO £150 millionO £130 millionO £120 millionO £110 millionMoving to another question will save this response.MacBook

Answered: Question 17 Given the following…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Answer question 17

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Step 1- Introduction

The expenditures in the economy are done by various entities in the economy. The entities such as the individuals in the economy, the households make up the consumption spending, the investment spending made by the investors, and also by the government.

The economies make up their growth and then develop with the help of the economic activities done by these entities. The decision-makers and the policymakers help in making decisions, and policies which assist in economic growth.