Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. Between 2018 and 2019 in the US, consumption increased by $20bn, out of which $5bn went to imported goods. Investment went up by $10bn,

image text in transcribed
5. Between 2018 and 2019 in the US, consumption increased by $20bn, out of which $5bn went to imported goods. Investment went up by $10bn, all spent on domestically produced goods and services. Total government spending did not change but the government shifted $12bn worth of spending from a foreign contractor to a domestic contractor. Exports decreased by $3bn. No other change occurred. What is the total change in US GDP between 2018 and 2019? a. + $22 bn b. + $34 bn c. + $27 bn d. + $39 bn

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing a risk based approach to conducting a quality audit

Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg

9th edition

9781133939160, 1133939155, 1133939163, 978-1133939153

Students also viewed these Economics questions

Question

Describe the factors influencing of performance appraisal.

Answered: 1 week ago