Use the data below to answer the following question(s): he following data about

Question

Use the data below to answer the following question(s): he following data about a hypothetical economy are in billions of dollars. Personal Consumption Expenditures $4,500 Consumption of Fixed Capital Gross Private Domestic Investment Government Purchases Exports Imports 150 800 950 65 85 13. Refer to the above data Personal consumption expenditures are approximately what percent of GDP in this economy? A. 67 percent B. 70 percent C. 72 percent D. 75 percent onnmy huy only three general types of products, A, B, and C

Explanation / Answer

Through expenditure method

Y=GdP=Personal Cosp. Expenditure+Gross Pvt Domestic imvestment+Govt. Purchase+Export-Import

Y=4500+800+950+65-85=6230

Personal consumption expenditure share=4500/6230*100=72.2%=72%

Thus ans is C

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