Assuming that C = $4,500, I = $1,000, G = $1,200, Exports = $450, Imports = $550, Depreciation = $600, and Indirect Business Taxes = $500 (all in billions of dollars), GDP equals:

Suppose the supply of non-OPEC oil increases due to new petroleum discoveries in other countries. What happens OPEC's share of the world oil market?

A) Increases B) Decreases C) Remains the same D) We do not have enough information to answer this question.

In June of 2010, the government had a debt of about $8.6 trillion. Over the next year real GDP grew by about 1.6% and inflation was about 2%. What is the largest deficit the government could have run over this time without raising the debt-to-GDP ratio?

a. about $68.8 billion b. about $137.6 billion c. about $275.2 billion d. about $309.6 billion