Gross domestic product (in billions of dollars) for this economy equals D) $1,200.
This refers to the total monetary value of all the finished goods and services that are produced within the borders of a country at a given time.
Therefore, given that the consumption expenditures, investment expenditures, government purchases, exports, imports, and wages are given, we can see that the gross domestic product for the economy is $1,200 because that is the sum of the consumption, investment, government spending, exports, and imports.
Consumption expenditures $800
Investment expenditures 200
Government purchases 300
Exports 100
Imports 200
Wages 800
8) Refer to Table above. Consider the data above (in billions of dollars) for an economy: Gross domestic product (in billions of dollars) for this economy equals
A) $2,200.
B) $1,600.
C) $1,400.
D) $1,200.
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