In the economy of Talikastan in 2015, consumption was $1000, GDP was $1950, government purchases were $500, and investment was $700 . What were Talikastan's net exports in 2015?
a. -$250
b. $250
c. $2200
d. Net exports cannot be calculated from the information given.
a
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When making historical comparison's of one's income, is it better to use real income or nominal income for the basis of your comparison? Explain why one makes a better comparison than the other
In an economy, the value of inventories fell by $50 billion from year 1 to year 2. In calculating total investment for year 2, national income accountants would increase it by $50 billion.
Answer the following statement true (T) or false (F)
If the market price of a bowling ball is $125 and the full cost of producing it is $35, then a bowling ball producing firm gets producer surplus of
A. $35. B. $90. C. $125. D. $160.