Use the Following Data to Calculate GDP: Consumption = $5,000;

question 173

Multiple Choice

Use the following data to calculate GDP: consumption = $5,000; gross investment = $800; government purchases = $700; exports = $30; imports = $60; transfer payments = $340.

• A)GDP = $7,400
• B)GDP = $7,740
• C)GDP = $3,140
• D)GDP = $6,200
• E)GDP cannot be determined due to insufficient data

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Definitions:

Market Share

The percentage of total sales in a market captured by a particular company, product, or brand, indicating its competitiveness and standing in the market.

Dollar Sales Revenue

The total amount of money generated from sales of goods or services, expressed in dollar terms.

Unit Volume

A measurement quantifying the number of units of a product sold or produced.

Volume Objectives

Objectives set by a company to achieve a specified quantity of sales or production volume within a certain timeframe.