-Using the Data in the Above Table, If Exports =

question 69

Multiple Choice

$$\begin{array} { | l | l | } \hline \text { Item } & \begin{array} { l } \text { Billions of } \\\text { dollars }\end{array} \\\hline \text { Exp orts of goods and services, } X & \\\hline \text { Imports of goods and services, } M & 1,000 \\\hline \text { Net taxes, } T & \\\hline \text { Government exp enditure, } G & 1,300 \\\hline \text { Saving, } S & \\\hline \text { Investment, } I & 650 \\\hline\end{array}$$
-Using the data in the above table, if exports = $1,150 billion and the private sector runs a surplus of
$300 billion, the government sector will run

• A) a surplus of $450 billion.
• B) a deficit of $450 billion.
• C) a deficit of $150 billion.
• D) a surplus of $150 billion.

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Definitions:

Extreme

Refers to values in a data set that are significantly higher or lower than the majority of the values.

Mild

Describes something that is gentle or not severe in effect or degree.

Contingency Table

A table used in statistics to display the frequency distribution of variables, showing the number of observations for each combination of two categorical variables.

Mutually Exclusive

Two events that cannot both occur at the same time, often referenced in probability and statistics to describe situations where the happening of one event excludes the occurrence of another.