Given the Following Hypothetical Data: C = $3,000; I =

question 72

Multiple Choice

Given the following hypothetical data: C = $3,000; I = $1,200; G = $2,000; X - M = -$500; depreciation = $200; transfer payments = $800,net domestic product is

• A)$5,500
• B)$5,700
• C)$6,200
• D)$6,400
• E)$6,900

---

Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive in the market.

Price

The monetary figure anticipated, obligated, or dispensed in transaction for a service or good.

Quantity

The amount or number of a material or immaterial good or service.

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium outcome is not achievable or not achieved in a market.