The following data are estimates describing Ireland's economy in 2006 and 2007 (in millions of euros, in constant prices):
2006 2007
Consumption 84,000 89,000
Government expenditure 24,000 26,000
Investment 48,000 48,000
Exports 142,000 151,000
Imports 123,000 128,000
Subsidies 1,800 1,900
Taxes 500 500
Which of the following is TRUE regarding Ireland's economy?
A) The change in GDP from 2006 to 2007 represented a peak in the business cycle.
B) GDP decreased from 2006 to 2007.
C) Net exports decreased from 2006 to 2007.
D) Consumption was 48 percent of Ireland's GDP in 2007.
D
You might also like to view...
Moving up (to the left) along a linear demand curve, the price elasticity of demand
A) decreases. B) does not change. C) increases. D) at first increases and then decreases.
A decrease in ________ decreases the demand for money
A) the discount rate B) real GDP C) the interest rate D) the quantity of money
According to the Efficient Markets Hypothesis, prices of securities
A) change infrequently. B) change frequently to reflect news about changes in the fundamental values of the securities. C) change frequently as evaluations of existing information about the securities change. D) are not allowed, under federal securities laws, to change more frequently than once a month.
Which of the following losses to an individual would an insurance company NOT cover?
A) The person's automobile is stolen. B) Fire destroys the person's home. C) The person's father dies. D) The person's country is invaded.