holding other expenditures constant, if imports fall by $20 billion and exports fall by $10 billion, then gdp:

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08-09-2022
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holding other expenditures constant, if imports fall by $20 billion and exports fall by $10 billion, then gdp:

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shubhamsinha3013 shubhamsinha3013 · Answer 1 · 2022-09-11T15:20:34+02:00

Holding other expenditures constant, if imports fall by $20 billion and exports fall by $10 billion, then GDP rises by $10 billion.

Gross domestic product (GDP) is a measure of the total value of final products and services generated in an economy for the market throughout time.

GDP is calculated using the expenditure technique as the total of private consumption, government spending, investment, and net exports.

The spending approach to measuring GDP states:

[tex]GDP = Consumer Spending + Government Spending + Investment + Exports - Imports[/tex]

If other expenditures remain unchanged, a 20 billion decrease in imports results in a 20 billion increase in GDP.

GDP will fall by 10 billion if exports fall by 10 billion.

As a result, the net effect is a rise of (20 - 10) = 10 billion.

Hence, GDP rises by $10 billion.

Learn more about GDP:

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