Given the Expenditure Side of Aggregate Output in the Economy
5. 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?
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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