The following data summarize the expenditures for the country of XYZ during 2003
ID: 1196478 • Letter: T
Question
The following data summarize the expenditures for the country of XYZ during 2003 in millions of alphabet, the currency of country XYZ.
Gross Private Domestic Investment
$300
Business Fixed Investment
$200
Change in Inventories
$100
Exports
$200
Imports
$200
Personal Consumption Expenditures
$800
Government Consumption Expenditures and Gross Investment
$500
Statistical Discrepancy
$10
Depreciation Expenditures
$50
a. Calculate net exports
b. Calculate GDP
c. Calculate national income
d. Assume that the GDP deflator is 120 and calculate real GDP for 2003.
Gross Private Domestic Investment
$300
Business Fixed Investment
$200
Change in Inventories
$100
Exports
$200
Imports
$200
Personal Consumption Expenditures
$800
Government Consumption Expenditures and Gross Investment
$500
Statistical Discrepancy
$10
Depreciation Expenditures
$50
Explanation / Answer
Net Exports
Net exports are calculated as the difference between exports and imports.
As per the given data, exports = 200 and imports = 200
Therefore, net exports = Exports – Imports = 200-200 = 0
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