Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below:Show all calculations and formulaCompute the value for the country’s GDP (Gross Domestic Product) at market price. COMPONENTR millionsConsumption expenditure (C)9 000Investment (06 500Government spending (G)7 000Exports (X)1 800Imports (Z)2 400Depreciation700Foreign payment to the rest of the300worldForeign payment from the rest of the250world

Given:C=9000I=6500G=7000X=1800Z=2400

Answered: Use the following composition of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Use the following composition of expenditure for the economy of a country named the Republic of Tapuwa, for the year ended 2019 to answer the questions below:

Show all calculations and formula

Compute the value for the country’s GDP (Gross Domestic Product) at market price.

COMPONENT
R millions
Consumption expenditure (C)
9 000
Investment (0
6 500
Government spending (G)
7 000
Exports (X)
1 800
Imports (Z)
2 400
Depreciation
700
Foreign payment to the rest of the
300
world
Foreign payment from the rest of the
250
world

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