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Economics Dec 17, 2020

Moving to another question will save this response. Question 19 Given the following data for the economy, compute the value of GDP Government purchases of goods and services Consumption Expenditures Exports Imports Change in inventories Construction of new homes and apartments Sales of existing homes and apartments Government payments to retirees Business fixed investment 10 70 5 12 -7 15 22 17 9 A Moving to another question will save this response.

Expert Solution

GDP = Government purchases of goods and services + Consumption expenditures + Business fixed investment + Exports - Imports

GDP = 10 + 70 + 9 +5 - 12 = 82

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