GDP in an economy is $11,050 billion. Consumer expenditures are $7,735 billion, government purchases are $1,989 billion, and gross investment is $1,410 billion. Net exports must be ________.
A. $53 billion
B. ? $161 billion
C. ? $84 billion
D. ? $47 billion
Answer: C
You might also like to view...
Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
The shares of GDP taken in taxes by federal, state & local governments
a. have risen steadily in the past 40 years to about 22 percent. b. have dropped steadily in the past 40 years to about 6 or 7 percent. c. grew substantially until the early 1970s and have leveled off at about 10 to 11 percent. d. fell steadily until the early 1970s and has risen steadily since then.
If the MRP of labor decreases, labor:
A. demand will decrease. B. demand will increase. C. supply will increase. D. supply will decrease.
(Consider This) Free products offered by firms:
A. may or may not be free to society but are never free to individuals. B. may or may not be free to individuals but are never free to society. C. are produced and distributed at no cost to society. D. are usually items nobody wants.