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. -$47 billion
C. -$84 billion
D. -$161 billion
C. -$84 billion
You might also like to view...
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
The income effect of a decrease in the price of macaroni and cheese (assume this is an inferior good) results in
A) an increase in the demand for macaroni and cheese. B) an increase in the quantity of macaroni and cheese demanded. C) a decrease in the quantity of macaroni and cheese demanded. D) a decrease in the demand for macaroni and cheese.
Economists prefer to look at declared preferences (how they say they behave) rather than revealed preferences (how people actually behave)
a. True b. False Indicate whether the statement is true or false
Merit pay for teachers has a _________ on test student test scores.
A. positive B. negative C. undetermined D. none of these answer options are correct.