Suppose That in a Closed Economy GDP Is Equal to 12

question 37

Multiple Choice

Suppose that in a closed economy GDP is equal to 12 000,taxes are equal to 1500,consumption is equal to 6800,and government expenditures are equal to 2500.What is national saving?

• A)4200
• B)2700
• C)1200
• D)1000

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Definitions:

Far-Right Conservatives

A political group or individuals who advocate for extreme conservative policies, often focusing on nationalism, strict immigration policies, and traditional social norms.

Republican Party

One of the two major contemporary political parties in the United States, traditionally supporting smaller government and conservative policies.

Populist Party

A political party in the United States in the late 19th century that represented the interests of farmers and laborers.

Small Farmers

Individuals who own and operate smaller plots of land, primarily for the cultivation of crops and raising livestock, often for family consumption and local markets.