Economics - Macroeconomics - GDP and national income - GDP Calculations
6 problems. Q1: 'GDP = C + I + G + (X-M). If C=$10T, I=$3T, G=$4T, X=$2T, M=$3T, GDP = ___' ($16T). Q2: 'Nominal GDP grew from $100B to $110B, but prices rose 5%. Real GDP growth = ___' (approximately 5%). Q3: 'Country A: GDP=$500B, Population=50M. GDP per capita = ___' ($10,000). Q4: 'If real GDP g