Using any relevant information below, calculate GDP using the expenditure approach. Inventory investment ................ $50 billion Fixed

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Using any relevant information below, calculate GDP using the expenditure approach.
Inventory investment ................ $50 billion
Fixed investment ................. $120 billion
Consumer durables ................ $420 billion
Consumer nondurables .............. $275 billion
Interest ..................... $140 billion
Indirect business taxes ................ $45 billion
Government wages and salaries ........... $300 billion
Government purchases of goods and services ...... $110 billion
Imports .................... $80 billion
Exports .................... $40 billion
Profits ..................... $320 billion
Services .................... $600 billion

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Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

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