Question

Consider the following hypothetical data for the U.S. economy in 2020 ( all amounts are in...

Consider the following hypothetical data for the U.S. economy in 2020 ( all amounts are in Trillions of dollars)

Consumption 11, Non-income-related taxes net of subssidies .8, Deprecation1.3, Govt. Spending 3.8, Imports 2.7, Gross Private Domestic Investment 4.0, Exports 2.5

A.) Based on the data, what is GDP, NDP?, NI? B.) suppose that in 2021 exports fall to $2.3 trillion, imports rise to $2.85 trillion, and gross private domestic investment falls to $3.25 trillion. What will th GDP be in 2021, assuming that other values do not change between 2020 and 2021?

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