Gross Domestic Product equals $1.2 trillion. If consumption equals $690 billion, investment equals $200 billion, and government spending equals $260 billion, then:
Answer : imports exceed exports by $50 billion.
You might also like to view...
According to UNESCO reporting, "Governments in North America and Western Europe invested the highest shares of national resources in education: 5.6 percent of GDP." As a result, we would expect ________, all else held constant. www.worldometer
info A) higher economic growth rates in these countries compared to other countries B) lower economic growth rates in the countries because fewer resources can be devoted to innovation C) lower research and development spending and lower economic growth unless the governments can raise taxes D) lower saving rates and slower economic growth
When economists use the term Ceteris paribus, they are indicating that:
A. the relationship between two economic variables cannot be determined. B. the analysis is true for the individual but not for the economy as a whole. C. all other variables except the ones specified are assumed to be constant. D. their conclusions are based on normative economics rather than positive economic analysis.
Short-run choices imply that at least one factor of production is fixed.
Answer the following statement true (T) or false (F)
The money demand function implies that money demand is
A. negatively related to interest rates. B. negatively related to bond prices. C. positively related to interest rates. D. negatively related to transactions in the economy.