Suppose that in a closed economy GDP is equal to 15,000, government purchases are equal to 3,000, consumption equals 10,500, and taxes equal 3,500 . What are private saving and public saving?

When the market clearing price of gasoline after a hurricane spikes to $6.00 but legislators enact "anti-gouging" legislation that keeps prices at $4,

A) consumers as a whole will tend to benefit. B) producers will have less incentive to bring gasoline to the areas where gasoline is most highly valued. C) government will ensure that no shortages will develo

Computers and software programs are

a. inferior goods b. complementary goods c. goods with a cross-price elasticity of demand of 0 d. substitute goods e. perfectly elastic goods