Assume the following accounts and amounts were reported by a nation last year: Government purchases of goods and services were $5.3 billion; personal consumption expenditures were $40.6 billion; gross private domestic investment amounted to $20 billion; personal savings were estimated at $2 billion; imports of goods and services amounted to $6.8 billion; and the exports of goods and services were $4 billion.

(a)

Determine the nations gross domestic product. (Enter amount in billion. Round answer to 1 decimal place, e.g. 527.5.)

Determine the nations gross domestic product, if the dollar amounts of imports and exports are reversed? (Enter amount in billion. Round answer to 1 decimal place, e.g. 527.5.)

Gross domestic product (GDP)