Question

pregunta 53 (6 puntos)
please calculate gdp based on the following information. please remember to use the formula.
component\tamount (in billions)
compensation of employees\t194
personal consumption expenditures\t989
u.s. imports of goods & services\t81
government expenses on goods & services\t187
gross personal income taxes\t56
private domestic investment\t102
u.s. exports of goods & services\t57

a\t$990 billion
b\t$1,144 billion
c\t$1,254 billion
d\t$1,051 billion
e\t$361 billion
f\t$40,052 billion

Explanation:

$G$ = Government Expenditures on Goods & Services

• $X$ = U.S. Exports of Goods & Services
• $M$ = U.S. Imports of Goods & Services

Step2: Plug in given values

$$GDP = 989 + 102 + 187 + (57 - 81)$$

Step3: Calculate net exports first

$$57 - 81 = -24$$

Step4: Sum remaining components

$$989 + 102 + 187 = 1278$$

Step5: Final GDP calculation

$$1278 - 24 = 1051$$

Answer:

$G$ = Government Expenditures on Goods & Services

• $X$ = U.S. Exports of Goods & Services
• $M$ = U.S. Imports of Goods & Services

Step2: Plug in given values

$$GDP = 989 + 102 + 187 + (57 - 81)$$

Step3: Calculate net exports first

$$57 - 81 = -24$$

Step4: Sum remaining components

$$989 + 102 + 187 = 1278$$

Step5: Final GDP calculation

$$1278 - 24 = 1051$$