Consumer spending, private investment spending and net exports in 2013. Concept Introduction: Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all finished goods and services produced by resident and non-resident people of a country that is within the borders of that particular country in an accounting year. Consumer spending: It refers to the amount spent by the consumer on durable or non-durable goods. Consumer spending is a part of GDP. Net Exports: Net export is the amount by which the value of a country’s total export exceeds the value of country’s total imports. The formula to calculate net exports is: Here, X is Exports. IM is Imports.

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Chapter 22, Problem 3P

To determine

To determine: Consumer spending, private investment spending and net exports in 2013.

Concept Introduction:

Gross Domestic Product (GDP): It refers to the gross money value or the gross market value of all finished goods and services produced by resident and non-resident people of a country that is within the borders of that particular country in an accounting year.

Consumer spending: It refers to the amount spent by the consumer on durable or non-durable goods. Consumer spending is a part of GDP.

Net Exports: Net export is the amount by which the value of a country’s total export exceeds the value of country’s total imports.

The formula to calculate net exports is:

Here,

X is Exports.

IM is Imports.

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