Consumption spending comprises what percentage of total spending?
A) 0.7 percent
B) 7 percent
C) 70 percent
D) 700 percent
C
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Some economists have argued that certain characteristics of the delivery of health care justify government intervention. One of these characteristics is
A) health care is nonrivalrous and nonexcludable. B) health care generates negative externalities. C) health care is a public good. D) health care generates positive externalities.
The GDP of Country A is equal to $124.5 billion, and the consumption expenditure in the economy is $85.9 billion. The government of Country A charges a flat tax of 20 percent. The government also spends $4.5 billion per year in the form of transfer payments. The disposable income of the country is equal to: a. $99.6 billion
b. $104.1 billion. c. $124.5 billion. d. $129.0 billion.