The Following Data Are Estimates Describing Ireland's Economy in 2006

question 40

Multiple Choice

The following data are estimates describing Ireland's economy in 2006 and 2007 (in millions of euros, in constant prices) : 2006 2007
Consumption 84,000 89,000
Government expenditure 24,000 26,000
Investment 48,000 48,000
Exports 142,000 151,000
Imports 123,000 128,000
Subsidies 1,800 1,900
Taxes 500 500
Which of the following is TRUE regarding Ireland's economy?

• A) The change in GDP from 2006 to 2007 represented a peak in the business cycle.
• B) GDP decreased from 2006 to 2007.
• C) Net exports decreased from 2006 to 2007.
• D) Consumption was 48 percent of Ireland's GDP in 2007.

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Definitions:

Formal Systems

Structured and officially sanctioned procedures, rules, and policies designed to organize and regulate organizational operations and behavior.

Patterns of Activity

Recurring behaviors or actions undertaken by individuals or groups in specific contexts.

Power Bases

The sources of influence and authority an individual or organization possesses.

Self-interested Politics

Actions within an organization where individuals or groups prioritize their own interests over the collective good.