Question 33 Consumption $10,069.1 billion Gross Investment $1,660.4 billion Government Spending $3,030.9 billion Exports $1,751.9 billion Imports $2,242.0 billion Net foreign Factor Income $191.5 billion Statistical Discrepancy $15.6 billion Consumption of fixed capital $1,863.1 billion According to the above information, using the Expenditures approach, what was the level of GDP in the U.S. economy in the first quarter of 2010? $18,754.3 billion $14,270.3 billion $20,824.5 billion $16,133.4 billion
Added by Jonathan J.
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The formula for GDP using this approach is: GDP = Consumption + Gross Investment + Government Spending + (Exports - Imports) + Net foreign Factor Income + Statistical Discrepancy Substituting the given values into the formula, we get: GDP = $10,069.1 billion + Show more…
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