The Following Table Provides Data for an Economy in a Certain

question 33

Multiple Choice

The following table provides data for an economy in a certain year. $$\begin{array} { l r } \text { Consumption expenditures } & 1,000 \\\text { Imports } & 600 \\\text { Government purchases of goods and services } & 700 \\\text { Construction of new homes and apartments } & 500 \\\text { Sales of existing homes and apartments } & 600 \\\text { Exports } & 500 \\\text { Government payments to retirees } & 200 \\\text { Household purchases of durable goods } & 300 \\\text { Beginning-of-year inventory } & 500 \\\text { End-of-year inventory } & 600 \\\text { Business fixed investment } & 300\end{array}$$ Given the data in the table, compute the value of GDP.

• A) 2,400
• B) 2,500
• C) 2,600
• D) 2,700

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Definitions:

Property Rights

The legal rights to use, transfer, or sell property, whether tangible or intangible, recognized and protected by law.

Higher User Costs

Increased charges or expenses borne by users for accessing or utilizing services, goods, or facilities.

Extracted More Quickly

The act of removing or obtaining resources at an accelerated rate from an environment or source.

Renewable Natural Resources

Things such as forests, water in reservoirs, and wildlife that are capable of growing back or building back up (renewing themselves) if they are harvested at moderate rates.