In a closed economy, GDP is $1000, government purchases are $200, and consumption is $700 . If the government has a budget surplus of $25, what are investment, taxes, private saving, and national saving?
Investment = $100, Taxes = $225, Private Saving = $75, National Saving = $100
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Which of the following statements is true?
A) When an industry achieves a long-run competitive equilibrium, industry output will not change in the future. B) When an industry reaches a long-run competitive equilibrium, the typical firm in the industry breaks even. C) A long-run competitive equilibrium can only be achieved in constant-cost industries. D) A long-run competitive equilibrium outcome is not economically efficient.
A monopoly faces an inverse demand curve of P = 100 - 2Q. The marginal cost curve is MC = .5Q. What government price ceiling would represent optimal price regulation?
What will be an ideal response?
The market demand function for wheat is Qd = 10 - 2P and the market supply function is Qs = 4P - 2, both measured in billions of bushels per year. Suppose the government wants to increase the price of wheat to $3/bushel and they impose a price support program to achieve their goal. How much wheat must the government buy?
A. 10 billion bushels per year B. 4 billion bushels per year C. 6 billion bushels per year D. None
In 2013, ____ percent of college degrees were earned by women
a. 27 b. 37 c. 47 d. 57