Suppose That in a Closed Economy GDP Is Equal to 15,000

question 97

Multiple Choice

Suppose that in a closed economy GDP is equal to 15,000, taxes are equal to 2500, consumption equals 7500, and government expenditures equal 3000. What is public saving?

• A)-600
• B)-500
• C)500
• D)600

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Definitions:

Phobia

An irrational and excessive fear of an object, place, situation, feeling or animal that poses little to no actual danger.

Interferes

To come or place oneself between, often to obstruct or hinder progress or activity.

Harmless Object

An item that is not likely to cause injury or damage.

Theoretical Problem

An issue or question that arises within the context of a theoretical framework, often requiring conceptual analysis or abstraction.