GDP in an economy is $4600 billion. Consumer expenditures are $3500 billion, government purchases are $900 billion, and gross private domestic investment is $400 billion. Net exports are:
A. -$400 billion.
B. +$200 billion
C. +$400 billion.
D. -$200 billion.
Answer: D
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Marginal benefit equals the
A) benefit that a person receives from consuming another unit of a good. B) additional efficiency from producing another unit of a good. C) increase in profit from producing another unit of a good. D) cost of producing another unit of a good. E) total benefit from consuming all the units of the good or service.
A surplus exists
A) in equilibrium. B) when quantity supplied is greater than quantity demanded. C) when quantity supplied is less that quantity demanded. D) at the market clearing price.
A monopolist can earn a positive economic profit, even in the long run
a. True b. False Indicate whether the statement is true or false
Comparing the United States economy in the 1920s with the economy in the 1990s, both decades
A. had slow economic growth. B. had a lack of any government regulation of the stock market. C. suffered from economic depressions. D. had soaring stock markets.