\[\begin{array} { | l | l | } \hline \text { Component } & \begin{array} { l } \text { Amount } \\ \text { (billions of } \\ \text { dollars) } \end{array} \\ \hline \begin{array}{l} \text { Personal consumption } \\ \text { expenditure } \end{array} & 3,720 \\\hline \begin{array}{l} \text { Government } \\ \text { expenditure } \end{array} & 430 \\\hline \text { Gros investment } & 610 \\ \hline \text { Net investment } & 520 \\ \hline \text { Exports } & 650 \\ \hline \text { Imports } & 720 \\ \hline \end{array}\] -Using the information in the table above, calculate gross domestic product.

A) $5,130 billion B) $5,320 billion C) $4,690 billion D) $4,760 billion A) $5,130 billion B) $5,320 billion C) $4,690 billion D) $4,760 billion

A) the maximum value of a variable. B) a measure of closeness on a scatter diagram. C) a general tendency for a variable to rise or fall. D) the minimum value of a variable. A) the maximum value of a variable. B) a measure of closeness on a scatter diagram. C) a general tendency for a variable to rise or fall. D) the minimum value of a variable.

$\begin{array}{|l|l|} \hline \text { Item } & \text { Dollars } \\ \hline \text { Net interest } & 239 \\\hline \begin{array}{l} \text { Government } \\ \text { expenditure } \\ \text { on goods and services } \end{array} & 136 \\\hline \begin{array}{l} \text { Compensation of } \\ \text { employees } \end{array} & 1,735 \\\hline \text { Rental income } & 37 \\ \hline \text { Proprietors' income } & 128 \\\hline \begin{array}{l} \text { Indirect taxes minus } \\ \text { subsidies } \end{array} & 259 \\\hline \text { Corporate profits } & 194 \\ \hline \begin{array}{l} \text { Exports of goods and } \\ \text { services } \end{array} & 249 \\\hline \begin{array}{l} \text { Imports of goods and } \\ \text { services } \end{array} & 289 \\\hline \text { Depreciation } & 333 \\ \hline \end{array}$ -Using the data in the above table, gross domestic product as calculated by the income approach equals_________ .

A) $2,592 B) $2,205 C) $2,333 D) $2,925 A) $2,592 B) $2,205 C) $2,333 D) $2,925

A) a goal that can never be achieved by the economy. B) the maximum GDP that an economy actually achieves throughout its entire history. C) the maximum amount of GDP that can be produced while avoiding shortages of labor, capital, land, and entrepreneurship that would bring rising inflation. D) the level of GDP achieved during periods when 100 percent of the labor force is employed. A) a goal that can never be achieved by the economy. B) the maximum GDP that an economy actually achieves throughout its entire history. C) the maximum amount of GDP that can be produced while avoiding shortages of labor, capital, land, and entrepreneurship that would bring rising inflation. D) the level of GDP achieved during periods when 100 percent of the labor force is employed.