Which of the following would result in GDP for an economy equal to $10 trillion?

A) C = $7 trillion
I = $2 trillion
G = $4 trillion
NX = $3 trillion B) C = $6 trillion
I = $2 trillion
G = $1.5 trillion
NX = -$2 trillion C) C = $4 trillion
I = $3 trillion
G = $2 trillion
NX = -$1 trillion D) C = $5 trillion
I = $5 trillion
G = $2 trillion
NX = -$2 trillion

D

Economics

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Refer to the production possibilities frontier in the figure above. Which of the following movements requires the largest opportunity cost, in terms of good Y forgone, per extra unit of good X?

A) from point a to point b B) from point b to point c C) from point c to point d D) from point d to point e

Economics

Elizabeth just received her Ph.D. in economics and has two competing job offers. The first is in Washington, D.C. and pays a salary of $200,000 . She has a similar job offer in Austin, TX that pays $90,000 . Which pair of CPIs would make the two salaries have the same purchasing power?

a. 70 in Washington, D.C. and 42 in Austin, TX b. 140 in Washington, D.C. and 70 in Austin, TX c. 160 in Washington, D.C. and 72 in Austin, TX d. 210 in Washington, D.C. and 150 in Austin, TX

Economics