The following data apply to a country in its domestic currency units:
Consumer spending on goods and services | 875,060 | Government spending on goods and services | 305,600 |
Business gross fixed investment | 286,400 | Government gross fixed investment | 84,120 |
Change in inventories | –68,500 | Capital consumption allowance | 8,540 |
Transfer payments | 9,300 | Statistical discrepancy | –2,850 |
Exports | 219,800 | Imports | 250,980 |
Using the expenditures approach, the country’s GDP is closest to:
- 1,466,490.
- 1,451,500.
- 1,448,650.Do we need to account statistical discrepancy?
Please refer to pg 134 given in the core and also do example 3 given in the core for further clarity