Suppose GDP is $10 billion, consumption expenditure is $7 billion, investment is $2 billion, and government expenditure on goods and services is $2 billion. Net exports of goods and services must be
A) $1 billion. B) -$2 billion. C) -$1 billion. D) $2 billion. E) $10 billion.
C
Economics
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Which of the following is true?
A) At full employment, aggregate supply is equal to potential GDP. B) Aggregate supply is another name for potential GDP. C) Potential GDP decreases as the price level increases. D) The potential GDP line has a negative slope. E) Potential GDP increases as the price level increases.
Economics
Which point in the figure above is an attainable combination that would have unemployed resources?
A) point A B) point B C) point C D) point D E) point A and point B
Economics