Answer the next question based on the following data. (These national income figures are in billions of dollars.)Personal consumption expenditures$4,500Consumption of fixed capital150Gross private domestic investment800Government purchases950Exports65Imports85GDP in this economy is ________.
A. $6,230 billion
B. $6,380 billion
C. $6,080 billion
D. $6,400 billion
Answer: A
Economics
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The long-run Phillips curve shows an inverse relation between inflation and unemployment
a. true b. false
Economics
Suppose Eddie's demand curve for text messages is T = 150 - 500Pt, where T stands for the number of text messages and Pt represents the price of text messages. What is Eddie's consumer surplus if Pt = $0.20 per message?
A. $0.50 B. $1.00 C. $2.00 D. $2.50
Economics