Question 7 - What will the value of GDP in 2012 Sr MSN.com Hotmail. Outlook. Cha

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Question 7 - What will the value of GDP in 2012

Sr MSN.com Hotmail. Outlook. Chamberlain University XWeek 5: MEL HomeworkX Do Homework - Pamela Harris X https://wwww.mathxl.com/Student/PlayerHomework.aspx?homeworkld Q Search Principles of Economics Pamela Harris 11/24/17 11:27 AM Homework: Week 5 Homework 35 pts Save Score: 0 of 1 pt 7 of 35 (22 complete) HW Score: 61.9%, 21.67 of 35 pts Checkpoint 2 Test B 1 Question Help * The table gives data about Northland's economy in 2012 What is the value of GDP in Northland in 2012? OA. $866 billion Amount Item Consumption expenditure Wages Indirect taxes less subsidies (blillons) 656 593 138 193 51 135 B. $1,291 billion O C. $2,019 billion O D. $1,153 billion Net exports of goods and services Profit 253 Click to select your answer and then click Check Answer Clear All Check Answer 1:77 PM Type here to search 11/24/20173

Explanation / Answer

Option D is correct

GDP = C + I + G + NX

C - consumption expenditure

G - Government expenditure

I - Investment expenditure

NX - Net Exports

GDP = 656 + 193 + 253 + 51 = $1153 bn

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