Given the Following Data for an Economy,compute the Value of GDP

question 108

Multiple Choice

Given the following data for an economy,compute the value of GDP.
Consumption expenditures
1000
Imports
600
Government purchases of goods and services
700
Construction of new homes and apartments
500
Sales of existing homes and apartments
600
Exports
500
Government payments to retirees
200
Household purchases of durable goods
300
Beginning-of-year business inventory
500
End-of-year business inventory
600
Business fixed investment
300

• A) 2,400.
• B) 2,500.
• C) 2,600.
• D) 2,700.
• E) 5,600.

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Definitions:

Embalming

The process of preserving a body after death using chemicals to delay decomposition, often for funeral proceedings.

Cultural Aspect

The elements of culture, including beliefs, norms, and social practices, that influence the behavior and perceptions of individuals within a society.

Mourning Customs

The rituals and practices that a culture or society follows in expressing grief and commemorating the dead.

Terminally Ill

A condition in which an individual is suffering from a disease or condition that is incurable and expected to lead to death.