In a Certain Economy in 2005,the Value of Imports Amounted

question 30

Multiple Choice

In a certain economy in 2005,the value of imports amounted to 80 percent of the value of exports.Consumption,investment,and government purchases added up to $5,000.The market value of all final goods and services produced within the economy was $5,500.It follows that the economy exported

• A)$500 worth of goods and services.
• B)$1,000 worth of goods and services.
• C)$1,500 worth of goods and services.
• D)$2,500 worth of goods and services.

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Definitions:

Insurance Coverage

The amount and type of protection provided by an insurance policy against various risks or damages.

Coinsurance Clause

A provision in insurance policies requiring the policyholder to bear a portion of the costs of a claim, promoting shared risk.

Fire Damages

Destruction or damage inflicted to property, goods, or assets due to fire.

Insurance Money

Funds received from an insurance company either as a claim settlement or benefit payment.