Consider Country X: In 2018, Country X had $80 billion in consumption spending, $20 billion dollars in government consumption, $30 billion in business investment, $20 billion in intermediate goods, $20 billion in exports, and $10 billion in imports, $20 billion in factor payments from the rest of the world, and $10 billion in factor payments to the rest of the world. Calculate the GDP and GNP of Country X in 2018.

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To calculate the GDP of Country X we can use the ex... View the full answer