For a hypothetical economy in a given year, consumption equaled $ 5,000, investment equaled $2,000, government spending

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For a hypothetical economy in a given year, consumption equaled $ 5,000, investment equaled $2,000, government spending equaled $ 1,000, exports equaled $2,000 and imports $1,000. Write out the formula used. What is the value of GDP?

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Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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Posted Date: Nov 20, 2022 12:09 PM

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For a hypothetical economy in a given year, consumption equaled $ 5,000, investment equaled $2,000, government spending

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The GDP can be calculated with the expenditure method Under expenditure method the ... View the full answer

Intermediate Accounting principles and analysis

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