Assume the following data for the U.S. economy in a recent year: | |
|---|
| Personal consumption expenditures | $ 5,015 billion | | Exports | 106 billion | | Government purchases of goods/services | 1,040 billion | | M1 | 262 billion | | Imports | 183 billion | | Gross private domestic investment | 975 billion | | Open market purchases by Federal Reserve | 5 billion |
Based on this information, which of the following was the U.S. GDP for the year in question?
|
a. | $7,215 billion. | |
b. | $6,691 billion. | |
c. | $6,953 billion. | |
d. | $6,958 billion. |
|
