Exhibit 11-3 GDP Data (Billions of Dollars)

question 108

Multiple Choice

Exhibit 11-3 GDP data (billions of dollars)

-Use the information in Exhibit 11-3 to compute net exports.Which of the following is correct?

• A)$100 billion.
• B)$150 billion.
• C)$250 billion.
• D)-$50 billion.
• E)$60 billion.

---

Definitions:

Hourly Rental Rate

The charge applied for renting a service or product by the hour.

X-box Video Game Systems

A brand of home video game consoles created and owned by Microsoft, known for its advanced graphics and powerful processing capabilities.

Producer Surplus

The difference between the amount a producer is willing to accept for a good or service and the actual amount received, reflecting the benefit to producers from participating in the market.

Price Discrimination

A strategy where a firm sells the same product at different prices to different groups of consumers, often based on their willingness to pay.