A country's GDP is being measured by the expenditure method. Various categories of expenditure are recorded as follows (in billions of dollars): households' spending on consumption firms spending on capital goods firms' additions to inventories govemment spending on services government spending on capital goods government transfers (e.g., Social Security) value of exports value of imports 100 15 $143 billion O$135 billion $123 billion $167 billion None of the other answers are correct. 1 10 2 20 17 12 [If the image above doesn't appear click here to open it in a new tab.] What is the correct estimate of GDP?
A country's GDP is being measured by the expenditure method. Various categories of expenditure are recorded as follows (in billions of dollars): households' spending on consumption firms spending on capital goods firms' additions to inventories govemment spending on services government spending on capital goods government transfers (e.g., Social Security) value of exports value of imports 100 15 $143 billion O$135 billion $123 billion $167 billion None of the other answers are correct. 1 10 2 20 17 12 [If the image above doesn't appear click here to open it in a new tab.] What is the correct estimate of GDP?
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 3P
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