Given the following hypothetical data where C = $3,000; I = $1,200; G = $2,000; X ? M = ?$500; depreciation = $200; transfer payments = $800, net domestic product is _____.
a. $5,700.
b. $5,500.
c. $6,900.
d. $6,200.
e. $6,400.
Answer: b. $5,500.
You might also like to view...
On-the-job-training is an example of
A) increasing labor force participation. B) investment in human capital. C) investment in physical capital. D) technological change.
Competitive markets with no external costs or benefits and no government price ceilings, floors, taxes or subsidies ________ efficient. According to the "It's not fair if the rules aren't fair" idea of fairness, competitive markets ________ fair
A) are; are B) are; are not C) are not; are D) are not; are not
Higher levels of savings will result in all of following except: a. greater economic growth
b. higher capital formation. c. more consumption in the future. d. lower rates of investment.
A restriction of imports that is accomplished by a quota normally
a. can be accomplished also by a tariff. b. cannot be replicated exactly by imposing a tariff. c. can be accomplished also by an export subsidy. d. can be accomplished also by negotiations within GATT.