According to the information in Scenario 15.5, if Catherine's life expectancy is 80 as a non-smoker and no inflation is expected to occur throughout her life (so that cigarettes stay at $2 per pack), then amount would she save by not buying cigarettes?

If Qs = -20 + 10p, and Qd = 400 - 20p, what is the equilibrium price?

A) 14 B) 42 C) 12.67 D) 38

If C = consumption, G = government expenditures, and I = gross private investment expenditures, the mathematical representation of Gross Domestic Product (GDP) using the expenditure approach is

A. Gross Domestic Product (GDP) = C + Imports. B. Gross Domestic Product (GDP) = C + I + G + Imports. C. Gross Domestic Product (GDP) = C + I + G + Transfers. D. Gross Domestic Product (GDP) = C + I + G + Net exports.