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to GDP next year 8-5. Consider the following hypothetical data for the U.S. economy in 2023 (all amounts are in trillions of dollars). Consumption 14.0

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to GDP next year 8-5. Consider the following hypothetical data for the U.S. economy in 2023 (all amounts are in trillions of dollars). Consumption 14.0 Non-income-related taxes net of subsidies 0.8 Depreciation 1.3 Government spending 4.8 Imports 2.7 Gross private domestic investment 4.0 Exports 2.5 a. Based on the data, what is GDP? NDP? NI? b. Suppose that in 2024, exports fall to $2.3 tril- lion, imports rise to $2.85 trillion, and gross pri- vate domestic investment falls to $4.25 trillion. What will GDP be in 2024, assuming that other values do not change between 2023 and 2024

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