Why Choose Us?
0% AI Guarantee
Human-written only.
24/7 Support
Anytime, anywhere.
Plagiarism Free
100% Original.
Expert Tutors
Masters & PhDs.
100% Confidential
Your privacy matters.
On-Time Delivery
Never miss a deadline.
The table below shows a section of the national accounts for a small country in 2018
The table below shows a section of the national accounts for a small country in 2018. Answer the question that follows using the information provided in the table. 9 800 3 500 500 Consumption expenditure Government expenditure Depreciation Exports Imports Gross capital formation (investment) Primary income payments Primary income receipts 2 200 1 900 2 500 300 200 The value of Gross Domestic Product (GDP) is: (4 marks) A B 16 100 19 900 16 600 15 600 ? D
Expert Solution
ANSWER-
The GDP is calculated as = Consumption expenditure + government expenditure + Investment + net exports.
In the question given, Consumption expenditure = 9,800, government expenditure = 3,500, investment = 2,500, exports = 2,200 and imports = 1,900.
Net exports = exports - imports = 2,200 - 1,900 = 300.
GDP = 9,800 + 3,500 + 2,500 + 300 = 16,100
So, the value of gross domestic product (GDP) is 16,100.
Hence, the correct answer is (A) 16,100
Archived Solution
You have full access to this solution. To save a copy with all formatting and attachments, use the button below.
For ready-to-submit work, please order a fresh solution below.
