Using the expenditure approach only

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Given the figures provided, calculate the GDP for the country, using the Expenditure Approach ONLY. Show your work. National income = 1,000, personal consumption = 3,000, net private domestic investment = 1,500, government purchases = 2,000, exports = 500, transfer payments by government = 400, imports = 800, depreciation = 500 and corporate income = 1,000. Hint: Not all of the values will apply and use the Expenditure Approach.

Reference no: EM13838166

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