Use the Following Data to Calculate GDP: Consumption = $5,000;

Multiple Choice

Use the following data to calculate GDP: consumption = $5,000; gross investment = $800; government purchases = $700; exports = $30; imports = $60; transfer payments = $340.

A) GDP = $7,400
B) GDP = $7,740
C) GDP = $3,140
D) GDP = $6,200
E) GDP cannot be determined due to insufficient data