Explain the
impact of an increase in consumer spending of $2 million and an increase in business production of $8 million on gross domestic product.What is the value of the Real GDP if nominal GDP was $50 million and inflation is 10%? Calculate government spending given the following information: GDP = $82 million Consumer spending = $57 million Financial investment spending = $12 million Investment spending = $18 million Business inventories = $2 million Net exports = $2 million
