The equilibrium GDP (=Y) in the economy is:
Answer the question on the basis of the following information for a private open economy. The letters Y, C, I g , X, and M stand for GDP, consumption, gross investment, exports, and imports respectively. Figures are in billions of dollars.
A. $200.
B. $245.
C. $320.
D. $350.
D. $350.
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What is the main goal of most people in a nation that has a traditional economic system?
a. to make a significant profit b. to produce weapons instead of consumer goods c. to produce innovative new products that improve the quality of life d. to survive and not starve to death
The "depreciation rate" tells us
A) the interest rate that should be used in present discounted value calculations. B) the rate at which consumers deplete their total wealth in retirement. C) the difference between current and expected income. D) the difference between current and expected profits. E) how much usefulness a machine loses from year to year.