In a Given Year, an Economy Has Consumption of $8000

question 29

Multiple Choice

In a given year, an economy has consumption of $8000, investment of $6000, government purchases of $5500, exports of $3500, and imports of $2000, What is the GDP?

• A) $14,000
• B) $19,500
• C) $21,000
• D) $25,000

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Definitions:

Order Paper

A document listing the business or matters to be considered by a parliament, legislative body, or other formal assembly.

Negotiable Note

A financial instrument that promises payment of a specific amount of money, either on demand or at a future date, and is transferable by endorsement.

Notice Provision

A clause in a contract that outlines the methods and timing required for giving formal notifications or communications between parties.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee’s name on it.