In the above table, the government sector balance is a
A) surplus of $200 billion.
B) deficit of $200 billion.
C) surplus of $100 billion.
D) deficit of $100 billion.
C
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In a small economy in 2016, aggregate expenditure was $850 million while GDP that year was $800 million. Which of the following can explain the difference between aggregate expenditure and GDP that year?
A) Aggregate expenditure is always less than GDP in developing countries. B) Aggregate expenditure is always less than GDP in developed countries. C) Firm investment in inventories was less than anticipated in 2016. D) Firm investment in inventories was greater than anticipated in 2016.
A rational consumer would never purchase a good if its
a. marginal utility is falling b. MU/P is positive c. MU/P is falling d. marginal utility is negative e. contribution to total utility is less than one