Given the following data for an economy, compute the value of GDP.?

Question

Given the following data for an economy, compute the value of GDP.

A. 2,400

B. 2,500

C. 2,600

D. 2,700

E. 5,600

Answer 1

You can't calculate right value without providing "data for economy".

Answer 2

GDP is one of the measures of national income and output for a given country's economy. GDP is defined as the total market value of all final goods and services produced within the country in a given period of time (usually a calendar year). It is also considered the sum of value added at every stage of production (the intermediate stages) of all final goods and services produced within a country in a given period of time, and it is given a money value.

The most common approach to measuring and understanding GDP is the expenditure method:

    GDP = consumption + gross investment + government spending + (exports − imports), or,

    GDP = C + I + G + (X-M)