Gross Domestic Product Calculation
Not what you're looking for?
DATA ARE IN TRILLIONS OF DOLLARS
Personal consumption expenditures $3.0
Net private domestic investment 1.4
Depreciation 0.2
Government purchases of goods and services 2.0
Exports 0.5
Imports 0.3
Foreign factor income 0.1
The economy's GDP is _________ trillion.
a. 6.6 b. 6.8 c. 7.2 d. 7.4.
The economy's GNP is _________ trillion.
a. 6.6 b. 6.7 c. 6.9 d. 7.9.
The economy's net exports are _________ trillion.
a. 0.4 b. 0.5 c. 0.3 d. 0.2.
Purchase this Solution
Solution Summary
This solution calculates the GDP (Gross Domestic Product), GNP (Gross National Product) and net exports based on the data provided.
Solution Preview
GDP = 3.0 + 1.4 + 2.0 + 0.5 - 0.3 = 6.6 trillion.
<br>GNP = 6.6 + 0.1 = 6.7 ...
Purchase this Solution
Free BrainMass Quizzes
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.