Table 6.1 provides data on the components of GDP for an economy.
Table 6-1

-Refer to Table 6-1. What is the value of GDP?
A) $1,820 billion
B) $2,170 billion
C) $2,080 billion
D) $2,550 billion

Question

Table 6.1 provides data on the components of GDP for an economy.
Table 6-1
 
-Refer to Table 6-1. What is the value of GDP?
A) $1,820 billion 
B) $2,170 billion 
C) $2,080 billion 
D) $2,550 billion

Quizplus · Accepted Answer

The value of GDP is calculated by adding up the value of all components: Consumption (C) + Investment (I) + Government Purchases (G) + Net Exports (NX). In this case, GDP = $1,580 + $580 + $460 + (-$20) = $2,080 billion. Therefore, the best answer is C.

Table 61 Provides Data on the Components of GDP for an an Economy