In a Closed Economy Government Spending Was $30 Billion, Consumption

question 258

Multiple Choice

In a closed economy government spending was $30 billion, consumption was $70 billion, taxes were $20 billion, and GDP was $110 billion this year. Investment spending was $10 billion. As a result:

• A) private savings were $10 billion.
• B) the government's budget balance was a surplus of $10 billion.
• C) there was no net savings.
• D) private savings were $20 billion.

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Definitions:

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A method of voting in corporate elections where shareholders must vote for directors individually, allocating one vote per share owned to each board candidate.

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