Look at the following data: GDP = $11,920 billion;investment = $2,100 billion;exports = $500 billion;government purchases = $1,450 billion;consumption = $8,500 billion.What does import spending equal?
A)$630 billion
B)$370 billion
C)$1,320 billion
D)$430 billion
E)$474 billion

Question

Quizplus · Accepted Answer

Import spending equals GDP minus consumption, investment, government purchases, and exports. In this case, import spending equals $11,920 billion - $8,500 billion - $2,100 billion - $1,450 billion - $500 billion = $630 billion.

Look at the Following Data: GDP = $11,920 Billion;investment =