Given the Expenditure Side of Aggregate Output in the Economy: Personal Consumption $200 Government Purchases

Question:

Given the Expenditure Side of Aggregate Output in the Economy:
• Personal Consumption $200
• Government Purchases 50
• Gross Private Investment 40
• Exports 30
• Imports 40
a) Calculate the Gross Domestic Product
b) Calculate the Net Exports
c) Why only Final Sale Prices are included in the GDP?

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