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Use the Following to Answer Questions: Table: Economic Data -(Table: Economic Data) Based on the Data in the Table

Question 49

Multiple Choice

Use the following to answer questions: Table: Economic Data  Component of GDP  Amount  Consumption $875.5 Investment 415.5 Wages and salaries 794.8 Rent 300.2 Profit 391 Government Purchases 380 Interest 345 Exports 520 Imports 360\begin{array} { l c } \hline \text { Component of GDP } & \text { Amount } \\\hline \text { Consumption } & \$ 875.5 \\\text { Investment } & 415.5 \\\text { Wages and salaries } & 794.8 \\\text { Rent } & 300.2 \\\text { Profit } & 391 \\\text { Government Purchases } & 380 \\\text { Interest } & 345 \\\text { Exports } & 520 \\\text { Imports } & 360 \\\hline\end{array}
-(Table: Economic Data) Based on the data in the table, what is the GDP for this economy based on the factor income approach?


A) $1,486
B) $1,831
C) $1,901.5
D) $2,246.5

Correct Answer:

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