Calculating GDP using the expenditure approach with provided data.
The GDP (Gross Domestic Product) using the expenditure approach can be calculated by adding up Consumption (C), Investment (I), Government Spending (G), and Net Exports (Exports - Imports). In this case:
Therefore, GDP = [tex]$695 billion (Consumption) + $[/tex]170 billion (Investment) + [tex]$345 billion (Government Spending) - $[/tex]30 billion (Net Exports) = $1,180 billion.
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