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<br/> -The following are national income account data for a hypothetical

economy in billions of dollars: gross private domestic investment ($320), imports ($35), exports ($22), personal consumption expenditures ($2460), and government purchases ($470). What is GDP in this economy?



2.Nominal GDP was $10,624 billion in year 1 and the GDP price index was 104. Nominal GDP was $11,246 in year 2 and the GDP deflator that year was 106. What was real GDP in years 1 and 2, respectively?


3.Net exports is a negative number when:


4.Money spent on the purchase of a new house is included in the GDP as a part of:

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The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investment ($320), imports
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