Purchase Solution

# Gross Domestic Product Calculation

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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.

##### 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 ...

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