Total Consumption in the Economy of Talikastan in 2015

What was Talikastan's consumption in 2015?

a. $3810
b. $3000
c. $2000
d. $2800

Why it is and what is an economy?

We can use the GDP formula to calculate Talikastan's consumption in 2015:

Talikastan's consumption in 2015 was $2800. correct option: d

Final answer:

To calculate the total consumption in the economy of Talikastan in 2015, we can use the formula for GDP: GDP = Consumption + Investment + Government purchases + (Exports - Imports). By rearranging the equation and substituting the given values, we can determine that Talikastan's consumption in 2015 was $2800.

Explanation:

To calculate the total consumption in the economy of Talikastan in 2015, we can use the formula for GDP:

GDP = Consumption + Investment + Government purchases + (Exports - Imports)

Given the values:

  • Exports = $500
  • GDP = $6400
  • Government purchases = $1700
  • Imports = $400
  • Investment = $1800

Substituting the values into the formula:

$6400 = Consumption + $1800 + $1700 + ($500 - $400)

By rearranging the equation, we can solve for Consumption:

Consumption = $6400 - $1800 - $1700 - $100

Consumption = $2800

Therefore, Talikastan's consumption in 2015 was $2800.

← The importance of understanding fixed costs in business Types of e commerce explained →

More Posts: