Using the Expenditure Approach, Calculate GDP Using the Following Data

Essay

Using the expenditure approach, calculate GDP using the following data. $$\begin{array} { | l | r | } \hline { \text { Item } } & \text { Amount in dollars (billions) } \\\hline \text { Consumption } & 7,600 \\\hline \text { Consumption of Durable Goods } & 1,600 \\\hline \text { Consumption of Nan Durable Gaods } & 2,800 \\\hline \text { Cansumptian of Services } & 3,200 \\\hline \text { Investment } & 2,750 \\\hline \text { Fixed Investment } & 1,000 \\\hline \text { Government purchases af Goods \& Services } & 1,675 \\\hline \text { Govermment Transfer Payyents } & 450 \\\hline \text { Exgarts } & 750 \\\hline \text { Imparts } & 1,600 \\\hline \text { GDP Equals } & \\\hline\end{array}$$