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lvnrn2012 lvnrn2012
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2 weeks ago
The Components of GDP

In a small economy, nominal GDP is $28,000.  Gross private domestic investment is $12,000, government purchases are $5400, and net exports are -$1200. What is the value of consumption spending?

▸ $35,800

▸ $7800

▸ -$11,800

▸ $11,800
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
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OmfgtimmyOmfgtimmy
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2 weeks ago
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$11,800

The value of consumption spending is calculated as: Nominal GDP - gross private domestic investment - government purchases - net exports.
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lvnrn2012 Author
wrote...

2 weeks ago
Good timing, thanks!
SupremeDJ
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Yesterday
Helped a lot
djeghri
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2 hours ago
Smart ... Thanks!
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