Answer to Question #59920 in Macroeconomics for Carla

Question

Calculate GDP using the expenditure approach by adding up the data in the left set of the column.

Answer 1

To calculate GDP using the expenditure approach we need to use the formula: Y = C + I + G + NX, where C - consumption, I - investment, G - government purchases, NX - net exports, NX = X - M, where X - exports, M - imports.