In the Economy of Wrexington in 2008,consumption Was One-Half of GDP,government

question 8

Multiple Choice

In the economy of Wrexington in 2008,consumption was one-half of GDP,government purchases were $2000 more than investment,investment was one-sixth of GDP,and the value of imports exceeded the value of exports by $500.What was Wrexington's GDP in 2008?

• A) $3000
• B) $4500
• C) $9000
• D) $15,000

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Definitions:

Plant Improvement Loans

Loans specifically aimed at financing the upgrades or expansion of physical industrial facilities to enhance productivity or capacity.

Second Mortgage

A loan taken out on a property that is already mortgaged, with the second loan being subordinate to the first.

Trade Credit

A type of commercial financing in which a buyer is allowed to purchase goods or services and pay the supplier at a later scheduled date.

Line of Credit

A flexible loan from a bank or financial institution that offers a borrower a maximum amount of money they can borrow over a specified time period.