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Business, 26.12.2020 01:30 JordanFlores2554

Suppose in the year 2019, people spent $500 on durable goods, $600 on non-durable goods, and $900 on services. During the same year, the government paid a total of $600 to soldiers and police officers, spent $400 building missiles and highways, spent $200 total on welfare and unemployment benefits and $800 on social security payments. During this year the United States had imports totaling up to $600 while exporting $200 worth of goods and services. Finally, firms spent $600 on machines that will increase their productive capacity and they raised the amount of goods in their inventories from $200 at the beginning of the year to $500 at the end of the year. Please use this information to calculate total GDP for 2017.a. $2,300.b. $2,800.c. $3,200.d. $2,700.

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Suppose in the year 2019, people spent $500 on durable goods, $600 on non-durable goods, and $900 on...

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