The country of Bienmundo does not trade with any other country. Its GDP is $30 billion. Its government purchases $5 billion worth of goods and services each year and collects $6 billion in taxes. Private saving in Bienmundo amounts to $5 billion. What are consumption and investment in Bienmundo?
a. $17 billion and $8 billion, respectively.
b. $19 billion and $6 billion, respectively.
c. $19 billion and $8 billion, respectively.
d. $17 billion and $6 billion, respectively.
b
Economics
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The text considers three methods that can be used to obtain empirical estimates of long-run costs in different industries
Of those three, surveys of expert opinion are considered to be most reliable because they are less subject to bias than the other two methods. Indicate whether the statement is true or false
Economics
A government good or service includes
A. bridges. B. parks. C. national defense. D. all of these answer options are correct.
Economics