Refer to the information provided in the uploaded image. Provide the Formula and

Question

Refer to the information provided in the uploaded image. Provide the Formula and the number for the answer Using theGDP -- The Expenditure Approach

16) Refer to Table 6.1. The value for net exports in billions of dollars is

A) 350. B) -300. C) -150. D) 400.

17) Refer to Table 6.1. The value of government spending in billions of dollars is

A) 300 B) 550. C) 250. D) 50.

18) Refer to Table 6.1. The value of gross domestic product in billions of dollars is

A) 2355. B) 1855. C) 2875. D) 2785.

19) A company produced 8 dishwasher machines in 2005. The company sold 6 in 2005 and added 2 to its

inventories. The market value of the dishwasher machines in 2005 was $200 per unit. What is the value of

this company's output that will be included in the 2005 GDP?

A) $2,000. B) $1,600. C) $1,400. D) $400.

Explanation / Answer

a. net exports = exports - imports 500-150 = 350 a b. federal purchases of goods +state and local purchase of goods =550 b c. C+I+G+NX consumption+ investment+ government spending+net exports investment = nonresidential investment + residential investment= 350 consumption = durable goods+services+change in business inventories+nondurable goods= 1325 GDP = 2875 c d. 200 per washing machine with 8 washing machines made= 1600 b

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