Which of the Following Would Result in GDP for an Economy

question 108

Multiple Choice

Which of the following would result in GDP for an economy equal to $10 trillion?

• A) C = $6 trillion I = $2 trillion
• G = $1.5 trillion
• NX = -$2 trillion
• B) C = $7 trillion I = $2 trillion
• G = $4 trillion
• NX = $3 trillion
• C) C = $5 trillion I = $5 trillion
• G = $2 trillion
• NX = -$2 trillion
• D) C = $4 trillion I = $3 trillion
• G = $2 trillion
• NX = -$1 trillion

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of goods sold by a company, including materials and labor.

Costing Inventories

The process of determining the value of inventory, including raw materials, work-in-progress, and finished goods, for financial reporting.

Homogeneous Items

Items that are of the same kind or nature, possessing common features or characteristics.