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.