Question

Consider the following hypothetical data for the US economy in 2020 (all amounts are in trillions of dollars).

Consumption- 11.0

Non-income-related taxes net of subsidies- 0.8

Depreciation- 1.3

Government 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, esports fall to $2.3 trillion, imports rise to $2.85 trillion, and gross private domestic investment falls to $3.25 trillion. What will gdp be in 2021, assuming that other values do not change between 2020 and 2021?

Macroeconomics