The following table gives the values of different expenditures in the United States during 1999: Item Billions
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Question:
The following table gives the values of different expenditures in the United States during 1999:
Item | Billions of dollars |
Consumption expenditures | 6,258 |
Investment | 1,623 |
Government purchases of goods and services | 1,630 |
Exports of goods and services | 998 |
Imports of goods and services | 1,252 |
a. What is the value of net exports in 1999?
b. What was (nominal) GDP equal to in 1999?
c. What was the (nominal) value of total production equal to in 1999?
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