In a Small Economy in 2017 Gross Fixed Capital Formation

question 248

Multiple Choice

In a small economy in 2017 gross fixed capital formation is $1,500, final consumption spending is $6,000, net investment is $1,000, inventory investment is $1,500, exports are $2,000 and imports are $1,000.What is GDP for this economy in 2017?

• A)$10,700
• B)$10,300
• C)$10,200
• D)$10,000
• E)$2,500

---

Definitions:

Reinforcement

A behavioral principle where the probability of a response occurring is increased or decreased through positive or negative stimuli.

Overtime Pay

Additional compensation provided to employees who work beyond the standard hours prescribed by their contract or work regulation.

Assembly Line

An assembly line is a manufacturing process in which parts are added to a product in a sequential manner to create a finished product efficiently.

Idle

A state of inactivity or not being in use, often referring to machinery or workers.