Table 51 National Income Accounts (Dollar Figures Are in Billions)

question 104

Multiple Choice

Table 5.1 National Income Accounts (dollar figures are in billions)
$\begin{array}{|l|r|}\hline \text { Expenditures for consumer goods and services } & \$ 4,565 \\\hline \text { Exports } & \$ 740 \\\hline \text { Government purchases of goods and services } & \$ 1,465 \\\hline \text { Social Security taxes } & \$ 510 \\\hline\text { Net investment } & \$ 225 \\\hline\text { Indirect business taxes } & \$ 520 \\\hline\text { Imports } & \$ 825 \\\hline \text { Gross investment } & \$ 865 \\\hline \text { Corporate income taxes } & \$ 185 \\\hline \text { Personal incometaxes } & \$ 750 \\\hline \text { Corporateretained earnings } & \$ 45 \\\hline\text { Net foreign factor income } & \$ 20 \\\hline \text { Govermment transfer payments to households } & \$ 690 \\\hline \text { Net interest payments to households } & \$ 0 \\\hline\end{array}$

On the basis of Table 5.1,net exports are

• A)$740 billion.
• B)$825 billion.
• C)-$85 billion.
• D)$85 billion.

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Definitions:

Livestock Specialization

The practice of focusing farm operations on the breeding, raising, and selling of particular types of domesticated animals for agricultural purposes.

Ready-Made Clothes

Garments that are mass-produced in standard sizes and sold in finished condition, as opposed to tailor-made or bespoke clothing.

Southern Planters

Wealthy landowners in the American South who owned large agricultural estates and relied on enslaved labor for their economic output, especially before the Civil War.

Middle-Class Homes

Residential dwellings typically inhabited by individuals or families belonging to the middle economic stratum, often characterized by stable incomes.