Answer the next question based on the following data. All figures are in billions of dollars.Government purchases$15Consumption90Gross investment20Consumption of fixed capital5Exports8Imports12This nation's GDP is ________.
A. $116
B. $125
C. $150
D. $121
Answer: D
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According to the Keynesian view of the demand for money, an increase in uncertainty will cause
A) a decrease in interest rates. B) an increase in interest rates. C) an increase in aggregate income. D) an increase in consumption.
Because private firms cannot make money pricing at marginal cost for collective consumption goods, government must produce collective consumption goods for them to exist
a. True b. False
In common value auctions
a. Every bidder know the value of the object being sold b. Each bidder makes the same estimate of the value of the good c. All bidders know the estimates of the others d. The true value of the item is common across bidders
Sam, a fish wholesaler, entered into a contract with a department store to supply herring at a price of $2.50 per pound for a year. When a hurricane closed most fisheries Sam increased the price to $3.25 per pound and refused to sell at the old price. Sam's behavior is an example of opportunism
Indicate whether the statement is true or false