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27 March, 04:22

Calculate the GDP of Dinoland using the expenditures approach given the following dа ta: personal consumption expenditures = $10 billion; gross private domestic investment = $5 billion; government spending = $3 billion; exports = $2 billion, imports = $1 billion.

a) $12 billion

b) $19 billion

c) $18 billion

d) $17 billion

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  1. 27 March, 04:36
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    Answer: b) $19 billion

    Explanation:

    GDP = Consumption + Investment + Government Spending + (Exports - Imports)

    GDP = $10 + $5 + $3 + ($2-$1) = $19 billion
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