Given the following data, calculate the GDP. wages = $500 government spending = $2,500 private investment = $2,100
Rent = $100 consumer spending = $7,800 net exports = $400
A) GDP = $11,400
B) GDP = $12,000
C) GDP = $12,800
D) GDP = $13,000

Question

Quizplus · Accepted Answer

GDP formula: GDP = Private Consumption + Gross Investment + Government Spending + (Exports – Imports)
GDP = $7,800 + $2,100 + $2,500 + ($400)
GDP = $12,800

Given the Following Data, Calculate the GDP