In a small economy, gross investment is $1,500, consumption spending is $6,000, net investment is $200, government spending is $1,500, exports are $2,000 and imports are $1,000. What is GDP for this economy?
A) $10,700 B) $10,300 C) $10,200 D) $10,000
D
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When the economy is at full employment, the
A) natural unemployment rate is equal to 0 percent. B) natural unemployment rate equals the unemployment rate. C) natural unemployment rate is equal to 10 percent. D) unemployment rate is equal to 0 percent. E) frictional unemployment rate is equal to 0 percent.
As a percentage of GDP, exports are greater than imports for which of the following countries?
A) France B) China C) the United Kingdom D) the United States
An increase in the unemployment rate may be represented as a movement from a point on the production possibilities frontier to a point inside the frontier
Indicate whether the statement is true or false
The primary characteristic of a public good is that it is nonrivalrous in consumption.
Answer the following statement true (T) or false (F)