GDP = Consumption + Gross private domestic investment + Government spending + Exports - Imports = $9.9 + $2.7 + $2.5 + $2.5 - $2.6 = $15 trillion
NDP = GDP - Depreciation = $15 - $1.2 = $13.8 trillion
NI = NDP - Non-income-related taxes net of subsidies = $13.8 - $0.8 = $13 trillion
Consumption=$9.9
Non-income-related taxes net of subsidies=0.8
Depreciation=1.2
Government spending=2.5
Imports=2.6
Gross private domestic investment=2.7
Exports=2.5
a. Based on the data above: (Enter your responses rounded to one decimal place.)
Calculate GDP? trillion.
Calculate NDP? trillion.
. Calculate NI?trillion.
.
3 answers
b. Suppose that in 2024, exports fall to $2.3
trillion, imports rise to $2.8
trillion , and gross private domestic investment falls to $2.0
trillion. Calculate GDP in 2024, assuming that other values do not change between 2023 and 2024. ---trillion.
(Enter your response rounded to one decimal place.)
trillion, imports rise to $2.8
trillion , and gross private domestic investment falls to $2.0
trillion. Calculate GDP in 2024, assuming that other values do not change between 2023 and 2024. ---trillion.
(Enter your response rounded to one decimal place.)
GDP = Consumption + Gross private domestic investment + Government spending + Exports - Imports
In 2024, Exports = $2.3 trillion, Imports = $2.8 trillion, Gross private domestic investment = $2.0 trillion
GDP = $9.9 + $2.0 + $2.5 + $2.3 - $2.8 = $13.9 trillion
Therefore, the GDP in 2024 would be $13.9 trillion.
In 2024, Exports = $2.3 trillion, Imports = $2.8 trillion, Gross private domestic investment = $2.0 trillion
GDP = $9.9 + $2.0 + $2.5 + $2.3 - $2.8 = $13.9 trillion
Therefore, the GDP in 2024 would be $13.9 trillion.