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Economics Asked by a SnapAndSolve user · 18 minutes ago

Choose the best answer using the chart. Calculate the GDP in millions. ○ $4,453.3 ○ $4,006.3 ○ $4,465.7 ○...

9. Choose the best answer using the chart.
Calculate the GDP in millions.
○ $4,453.3
○ $4,006.3
○ $4,465.7
○ $4,459.5

Answer

To calculate GDP using the formula Y = C + I + G + NX, we need to use the following values from the chart:

Consumption expenditures (C): $1,429.4 million
Investments (I): $543.2 million
Government expenditures (G): $2,343.2 million
Net exports (NX) = Exports - Imports = $453.9 million - $310.2 million = $143.7 million

Now, substitute these values into the GDP formula:

GDP = $1,429.4 + $543.2 + $2,343.2 + $143.7 = $4,459.5 million

The correct answer is $4,459.5.

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