The following data describe France's economy in 2008
Consumption 234 billion euros
Government expenditure 93 billion euros
Investment 88 billion euros
Exports 128 billion euros
Imports 137 billion euros
From the data, we can conclude that in France
A) net exports totaled -11 billion euros.
B) GDP equaled 424 billion euros.
C) GDP equaled 680 billion euros.
D) Net exports totaled 265 billion euros.
A
You might also like to view...
Two currencies existed in Iraq before the U.S. invasion and subsequent conflict. What lessons are there for students of exchange rates?
a. Exchange rate values are influenced not only by economic fundamentals but by political events that change long-run expectations of future currency values. b. Iraq did not back its currency with gold and, therefore, it was worth much less than the U.S. dollar. c. Eventually, each Iraqi sect developed its own currency and payments system. d. Exchange rate values are solely influenced by economic policy.
Suppose 80% of U.S. trade is with England and the rest is with Japan. If the dollar rises by 10% against the pound and rises by 20% against the yen, what is the percentage change in the effective exchange rate of the United States?
a. -16% b. -12% c. -8% d. -4%