Since 1970, the federal government budget has never been in surplus

A ten-year-old goes to a baseball convention this week and purchases a newly-autographed Barry Bonds baseball for $100. How would this affect GDP?

A) It wouldn't. B) GDP would increase by $10—reflecting the market price of the ball itself. C) GDP would increase by $90—reflecting the market price of Bonds' autograph. D) GDP would increase by $100—reflecting the market price of the autographed ball. E) GDP would have increased were the autographed ball purchased by somebody 16 years or older.

Given the following information, calculate personal consumption expenditures

GDP $5,000 Gross Private Domestic Investment $1,500 Government Consumption Expenditures and Gross Investment $1,000 Net Exports -$500