Answer the next question based on the following data. All figures are in billions of dollars.Personal taxes$40Social security contributions15Taxes on production and imports20Corporate income taxes40Transfer payments22U.S. exports24Undistributed corporate profits35Government purchases90Gross private domestic investment75U.S. imports22Personal consumption expenditures250Consumption of fixed capital25Net foreign factor income10Statistical discrepancy0GDP is ________.
A. $417
B. $492
C. $390
D. $422
Answer: A
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The trade deficit is the mirror image of required capital inflows
a. True b. False Indicate whether the statement is true or false
Total revenue for producing eight units of output is $48. Total revenue for producing nine units of output is $63. Given this information, the:
A. average revenue for producing nine units is $1. B. average revenue for producing nine units is $15. C. marginal revenue for producing the ninth unit is $15. D. marginal revenue for producing the ninth unit is $1.
The marginal propensity to save is equal to
A) One minus the marginal propensity to consume. B) The change in savings with respect to the change in change in consumption. C) One plus the marginal propensity to consume. D) None of the above.
Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.
Figure 33.5Refer to Figure 33.5. The domestic price of oil is $130 per barrel. If the world price of oil is $120 per barrel, this country will
A. export 5 million barrels. B. import 14 million barrels. C. export 19 million barrels. D. import 19 million barrels.