Given the following annual information about a hypothetical country, answer ques

Question

Given the following annual information about a hypothetical country, answer questions a through d.

                                                                                                Billions of Dollars     

Personal consumption expenditures                                                   $200

Personal taxes                                                                                    50

Exports                                                                                              30

Depreciation                                                                                      10

Government purchases                                                                       50

Gross private domestic investment                                                      40

Imports                                                                                             40

Government transfer payments                                                         20

a. what is the GDP?

b. what is the value of net domestic product?

c what is the value of net investment?

d. what is the value of net exports?                                  

Explanation / Answer

a. GDP = 200 + 40 + 50 + (30 - 40) = $280 billion

b. $280 - 10 = $270 billion

c. 40 - 10 = $30 billion

d. $ -10 billion

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