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Homework answers / question archive / Given the following annual information about a hypothetical country, answer questions a through d

Given the following annual information about a hypothetical country, answer questions a through d

Economics

Given the following annual information about a hypothetical country, answer questions a through d. 

  Billions of Dollars
Personal consumption expenditures $200
Personal taxes 50
Exports 30
Depreciation 10
Government purchases 50
Gross private domestic investment 40
Imports 40
Government transfer payments 20

a. What is the value of GDP?

 

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Purchased 9Computation of Value of GDP: GDP = C+I+G+X-M Here, C = Personal consumption expenditures = $200 I = Gross private domestic investment = $40 G = Government purchases = $50 X = Exports = $30 M = Imports = $40 So, GDP = 200+40+50+30-40 = 280 times

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