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 products allows the seller to identify different groups of consumers (segment the market) and practice price discrimination?
A) clothing items sold through Macy's Department Store B) a cafe latte sold at Starbucks C) tickets to matinee shows at a movie theatre D) a hamburger sold at Burger King
Describe the elasticity of supply for college education. What effect does this have on price and quantity as demand for college increases?
Please provide the best answer for the statement.
Answer the following statements true (T) or false (F)
1) Built-in stability is synonymous with discretionary fiscal policy. 2) The actual budget may be in deficit while the cyclically adjusted budget is in surplus. 3) An increase in the cyclical deficits will automatically increase the cyclically adjusted budget deficit. 4) Tax revenues automatically increase during economic expansions and decrease during recessions.
If the CPI was 180 at the end of 2007, and 216 at the end of 2008, the inflation rate in 2008 was
A) 216 percent. B) 36 percent. C) 18 percent. D) 20 percent. E) 16.67 percent.