Refer to Table 24-2. What was country A's GDP in 2019?O a. $6,359O b. $7,253O c. $7,136O d. $8,147 The following table contains data for country A for the year 2019.In Billions ofDollars$1,293$1,717$301$704$310Inventory changes$374Purchases of new structures$611Depreciation$117Salaries of government workers$1,422Government expenditures on public works $553$777$88$120CategoryHousehold purchases of durable goodsHousehold purchases of nondurablegoodsHousehold purchases of servicesHousehold purchases of new housingPurchases of capital equipmentTransfer paymentsForeign purchases of domesticallyproduced goodsDomestic purchases of foreign goods4

Gross domestic product is the summation of a country's final goods and services. The increase in GDP…

The following table contains data for country A for the year 2019. In Billions of Dollars $1,293 $1,717 $301 $704 $310 $374 $611 $117 Category Household purchases of durable goods Household purchases of nondurable goods Household purchases of services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Salaries of government workers $1,422 Government expenditures on public works $553 $777 Transfer payments Foreign purchases of domestically produced goods Domestic purchases of foreign goods $88 $120 D

The following table contains data for country A for the year 2019. In Billions of Dollars $1,293 $1,717 $301 $704 $310 $374 $611 $117 Category Household purchases of durable goods Household purchases of nondurable goods Household purchases of services Household purchases of new housing Purchases of capital equipment Inventory changes Purchases of new structures Depreciation Salaries of government workers $1,422 Government expenditures on public works $553 $777 Transfer payments Foreign purchases of domestically produced goods Domestic purchases of foreign goods $88 $120 D

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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