Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose that in 2018 in Country A, consumption expenditure by households totaled$710billion. Business investment in the country's economy was$140billion, and the government spent$82 billion on

Suppose that in 2018 in Country A, consumption expenditure by households totaled$710billion. Business investment in the country's economy was$140billion, and the government spent$82

billion on local projects. Exports were$91 billion while imports amounted to$109 billion.

Calculate the percentage of government spending in the country'sGDP. Enter your answer in the box below and round your final answer to two decimal places.

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

Economics

Authors: Roger A. Arnold

11th edition

1133561675, 978-1133561675

More Books

Students also viewed these Economics questions