How would your answer change if the dollar amounts of imports and exports are reversed?

s gross domestic product were identified and discussed in the Show more The components that comprise a nations gross domestic product were identified and discussed in the chapter. Assume the following accounts and amounts were reported by a nation last year. Government purchases of goods and services were $5.5 billion; personal consumption expenditures were $40.5 billion; gross private domestic investment amounted to $20 billion; capital consumption allowances were $4 billion; personal savings were estimated at $2 billion; imports of goods and services amounted to $6.5 billion; and the exports of goods and services were $5 billion. a. Determine the nations gross domestic product. b. How would your answer change if the dollar amounts of imports and exports are reversed? GDP Components* GDP Components* GDP Components* Part A (in billions) Part B (in billions) T T T F F T T T F F T T T F F T T T C C Gross domestic product (GDP) Gross domestic product (GDP) Gross domestic product (GDP) C C Show less

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