Which of the following is correct if real GDP is $20 trillion and spending is $20.5 trillion?

What will be an ideal response?


Spending is greater than output by $0.5 trillion.

Economics

You might also like to view...

A U.S. tariff imposed on items that can be produced more cheaply abroad

A) benefits Americans by making these goods cheaper. B) makes the goods more expensive in foreign markets. C) creates a deadweight loss. D) makes the world market more efficient.

Economics

Write an essay on the role of the WTO in today's international economy

What will be an ideal response?

Economics

Goals have many attributes, which of the following is not a main characteristic or attribute?

a. Intensity b. Complexity c. Priority d. Procrastination

Economics

GLS is consistent and BLUE if

A) X is predetermined. B) the error process is AR(1). C) X is strictly exogenous. D) all the roots are inside the unit circle.

Economics