1 Billion Transfers

The Bureau of Economic Analysis is responsible for calculating Gross Domestic Product in the United States. The following table shows data for the United States in 2003. All figures are in billions of current dollars (that is, they are not adjusted for inflation).

Disposable Personal Income $8,169
Government Spending on Goods and Services $2,092
Net Exports - $501
Consumption Spending $7,710
Transfer Payments $1,344
Investment Spending $1,670

Using some of these figures, calculate the GDP for the United States in 2003 by adding the different types of expenditure. Express your answer in billions of dollars.

GDP = $11,973 billion.

Gov't Spending - $2,092
Investment Spending - $1,670
Consumption - $7,710
Net Exports - $501

This Week at NASA -- 1-25-08

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