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) .