First of all, use some new lines and indentation in nested commands such as these. That makes it a lot easier to debug them, both for yourself and when requesting support. Second, an inline MWE helps in getting support too, since someone else doesn't have to download your file first, I often already spot the problem in the browser, and prefer not to switch to a texteditor first
Having said that, I indented your code for you, I think you'll spot the problem yourself soon enough

Hint:
it's the same problem as before, please take a look at what I posted yesterday for an explanation and the solution.
Code: Select all
\documentclass[mathserif,10pt]{beamer}
\usepackage{lmodern}
\usepackage{amsmath,amssymb}
\begin{document}
%>--- Slide --------------------------------------
\begin{frame}[c]{}
%\begin{center}
$
\underbrace{GDP}_{
\begin{subarray}{c}
\text{Gross}\\
\text{domestic}\\
\text{product}
\end{subarray}}
\quad = \quad \underbrace{C + I + G}_{
\begin{subarray}{c}
\text{Gross}\\
\text{national}\\
\text{expenditure}\\
GNE
\end{subarray}}
\quad + \quad \underbrace{\left(
\underbrace{EX}_{
\begin{subarray}{c}
\text{All exports,}\\
\text{final \& intermediate}
\end{subarray}}
- \underbrace{IM}_\text{
\begin{subarray}{c}
\text{All exports,}\\
\text{final \& intermediate}
\end{subarray}
}
\right)}_{
\begin{subarray}{c}
\text{Trade balance}\\
TB
\end{subarray}}
$
%\end{center}
\end{frame}
\end{document}
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