Nakieapowell1006 Nakieapowell1006

21-12-2022
Business

Answered

in the economy of wrexington in 2008, consumption was $3000, exports were $400, gdp was $5000, imports were $600, and investment was $1100. what were wrexington's government purchases in 2008?

Answer :

PinkiGhosh PinkiGhosh

25-12-2022

given:

consumption: $3000

exports : $400

gdp :$5000

imports :$600

investment :$1100

wrexington's government purchases in 2008 was $1100.so answer is $1100.

In what ways might nominal GDP and price index be used to compute real GDP?

Real GDP is typically calculated by subtracting the GDP deflator from nominal GDP (R). The deflationary figure is 1.01, for instance, if prices in an economy have risen by 1% from the base year. Real GDP is calculated as $1,000,000 divided by 1.01, which equals $990,099, if nominal GDP was $1 million.

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