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QUESTION 2 Consider Country S: In 2019, Country S had $700 billion in consumption spending, $100 billion dollars in government consumption, $200 billion in business
QUESTION 2 Consider Country S: In 2019, Country S had $700 billion in consumption spending, $100 billion dollars in government consumption, $200 billion in business investment, $80 billion in intermediate goods, $10 billion in exports, and $20 billion in imports. In addition, $30 billion of used goods were sold and $90 billion was collected in taxes. Net factor paymets were $20 billion. Using the expenditure approach to GDP, calculate the GDP of Country S in 2019: O a. $940 billion O b. $950 billion O c. $990 billion O d. $1,040 billion ($1.040 Trillion) O e. $1,060 billion ($1.050 Trillion) Of. $1,070 billion ($1.070 Trillion) O g. $1,090 billion ($1.090 Trillion)QUESTION 3 In December of 2019, Ford produced an extra 10,000 cars. Those 10,000 cars were not sold to customers but were added to inventory. The production of these 10,000 cars O a. led to an increase in GDP O b. had no effect on GDP c. led to a decrease in GDP QUESTION 4 You are in London and purchase a sandwich for 6 British Pounds and the exchange rate is 0.81 Pounds/US dollar, then how much did your sandwich cost in US dollars $0.486 O $0.741 $4.86 O $7.41 O $48.60
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