Look at the following data: GDP = 1,150 billion; investment = $200 billion; exports = $55 billion; government purchases = $145 billion; consumption = $850 billion.What does import spending equal?
A) $100 billion
B) $370 billion
C) $200 billion
D) $430 billion
E) There is not enough information provided to answer this question.

Question

Quizplus · Accepted Answer

GDP = Consumption + Investment + Government Purchases + (Exports - Imports). Plugging in the numbers: 1150 = 850 + 200 + 145 + (55 - Imports). Solving for Imports gives us $100 billion.

Look at the Following Data: GDP = 1,150 Billion; Investment