The following data about a hypothetical economy are in billions of dollars. Personal Consumption Expenditures $4,500 Consumption of Fixed Capital 150 Gross Private Domestic Investment 800 Government Purchases 950 Exports 65 Imports 85 Refer to the above data. GDP in this economy is: Multiple Choice $6080 billion. $6230 billion. $6380 billion. $6400 billion

Q: Variable GDP Consumption Investment Government purchase Data 42615 12215 12363

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

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A: Gross domestic product refers to the total market value of goods and services produced domestically…

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A: GDP = Household spending + Gross investment + Government spending + Net exports

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Q: Use data below to answer the following questions: Consumption expenditures $300 billion, Government…

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A:

Q: 24. What is the GDP of country X? 25. What is the per capita GDP of Country X?

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

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Q: None

A: Value of MPC = Change in GDP/Change in consumptionValue of MPC = (14,000-13,000) - (8,400-7,800) =…

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