# what is the formula?

*label*Economics

*timer*Asked: Aug 25th, 2014

**Question description**

GDP Calculation

Consumption $300 Imports $30 Government Purchases 150 Exports 80 GNP 700 Gross Private Dom. Invest. 100

a. Using the data in the table above, GDP is equal to _______.

b. Using the data in the table above, NX (Net exports) is equal to ________.

c. Using the data in the table above, PCE (Personal Consumption Expenditure) is equal to __________.

d. If the dollar amounts of the items above are the nominal amounts in year 2009, and the quantites of units are identical in years 2000 and 2009 but prices in 2000 were 30% less than 2009, Real GDP in 2009 using 2000 as the base year is equal to __________.