Answer to Question #231212 in Economics for Fatima

Question

The following list shows the total expenditures in the private, public and foreign sectors in the United States in 2009 (in billions of dollars).

Household Consumption (C) = 10,001

Private Investment (I) = 1,590

Government Expenditures (G) = 2,914

Net Exports (X-M) = -386.

Calculate total US GDP for 2010. 

Answer 1

Total US GDP for 2010 is:

$Y = C + I + G + (X - M) = 10,001 + 1,590 + 2,914 - 386 = 14,119$(billions of dollars) .