Given the following information:
(all dollar amounts in trillions)
Personal consumption expenditures $3.0
Net private domestic investment 1.4
Government purchases of goods and services 2.0
Foreign factor income 0.1
- Compute the GDP
- Compute the net exports.
Net Exports= Exports-Imports
GDP as per expenditure method:
GDP = private consumption + ...
Response provides the steps to compute the GDP and net exports.