For purpose of EC 201, write an essay about the Gross Domestic Product

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For purpose of EC 201, write an essay about the Gross Domestic Product

For purpose of EC 201, write an essay about the Gross Domestic Product
GDP=C+I+/-X+G (Aggregate Expenditures)
Economists in the country have estimated that the GDP, based upon employment of 300M people is $370B
Given Data:
1. Real GDP=$330B
2. Nominal GDP=$290B
3. GNP=$315B
4. Average Nominal GDP(Last five years)=$275B
5. Net imports=$72B (assume that all countries trade in American dollars)
6. Net exports=$65B (assume that all countries trade in American dollars)
7. Exchange rate=1.00 (American) equals 16 Cuban Pesos
8. Multiplier(given)=4
9. Consumption=$385B
10. Investment=$25B
11. Government Purchases=$30B
Request:
Define all the terms in the simplified GDP formula
Please calculate the GDP based upon the information given
Please determine if the calculated GDP is in EQUILIBRIUM with the projected GDP
Why or why not is your calculation above in equilibrium of out of equilibrium
If you presented the government what fiscal policy would you recommend that the government adopt-explain
In Addition: Two pages
 
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