Exhibit 5-1Use the information below to answer the following question(s).
National income accountBillions ofdollars
Personal consumption expenditures$900
Personal taxes 180
Government consumption and gross investment 300
Interest income 60
Exports 40
Imports 75
Depreciation 60
Gross investment 200
Refer to Exhibit 5-1. What is this country's gross domestic product?
A. $1,225.
B. $1,305.
C. $1,365.
D. $1,440.
Answer: C
You might also like to view...
What will happen to the steady-state equilibrium level of output and capital stock in an economy if:
a) there is an increase in the savings rate. b) there is a deterioration of human capital. What will be an ideal response?
Which statement is true?
A. Industry X has a higher Herfindahl-Hirschman index than Industry Y.
B. Industry Y has a higher Herfindahl-Hirschman index than Industry Z.
C. Industry Z has a higher Herfindahl-Hirschman index than Industry X.
D. Industries X, Y, and Z have the same Herfindahl-Hirschman index.
Unions can ration the excess supply of labor generated by the establishment of a wage that is above the competitive wage by
A. lowering union dues. B. lengthening the time period for apprenticeship programs. C. having more intensive membership drives to ensure a larger proportion of workers are covered by the union contract. D. encouraging older workers to take early retirement.
A depreciation of the U.S. dollar relative to the euro would tend to
A. increase U.S. exports to Germany. B. increase both U.S. imports from Germany and U.S. exports to Germany. C. decrease U.S. exports to Germany. D. increase U.S. imports from Germany.