Question
Consider Country S: In 2019, Country S had $14 trillion in consumption spending, $5 trillion dollars in government consumption, $3 tillion in business investment, $6
Consider Country S: In 2019, Country S had $14 trillion in consumption spending, $5 trillion dollars in government consumption, $3 tillion in business investment, $6 trillion in intermediate goods, $1 trillion in exports, $3 trillion in imports, $0.5 trillion in sales of used goods, and the government collected $2.5 trillion in taxes. Calculate the GDP of Country S in 2018 using the expenditure approach to GDP.
| a. | $19.5 trillion | |
| b. | $20 trillion | |
| c. | $21 trillion | |
| d. | $22 trillion | |
| e. | $23.5 trillion | |
| f. | $24.5 trillion | |
| g. | $29 trillion | |
| h. | $30.5 trillion |
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Macroeconomics
Authors: Robert J Gordon
12th edition
138014914, 978-0138014919
