Use the Figure Below to Answer the Following Questions

question 34

Multiple Choice

Use the figure below to answer the following questions.

Figure 20.1.1
-Refer to Figure 20.1.1,which shows the circular flow of expenditure and income for Venus.During 2012,A was $100,B was $50,C was $30 and D was $10.How much is net exports?

• A)$10
• B)$25
• C)$30
• D)$50
• E)None of the above

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Definitions:

Title Passes

The point at which ownership of property is transferred from one party to another according to the terms of a contract.

Goods Arrive

The event or process where purchased or ordered products reach their destination or the buyer's location.

Fungible Goods

Goods of which any unit is identical from another and can be substituted, such as grains, fuels, or money.

Equivalent Unit

A concept in cost accounting used to express the amount of work in progress inventory in terms of fully completed units of output.