The Following Data Are Estimates Describing Ireland's Economy in 2006

question 40

Multiple Choice

The following data are estimates describing Ireland's economy in 2006 and 2007 (in millions of euros, in constant prices) : 2006 2007
Consumption 84,000 89,000
Government expenditure 24,000 26,000
Investment 48,000 48,000
Exports 142,000 151,000
Imports 123,000 128,000
Subsidies 1,800 1,900
Taxes 500 500
Which of the following is TRUE regarding Ireland's economy?

• A) The change in GDP from 2006 to 2007 represented a peak in the business cycle.
• B) GDP decreased from 2006 to 2007.
• C) Net exports decreased from 2006 to 2007.
• D) Consumption was 48 percent of Ireland's GDP in 2007.

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Definitions:

Outer Canthus

The external corner of the eye where the upper and lower eyelids meet.

Lower Conjunctival Sac

The space between the lower eyelid and the surface of the eye, often where eye drops are applied.

Protective Mechanisms

Biological or behavioral adaptations that help organisms survive by defending against threats or reducing harm.

Comatose Patient

An individual in a state of deep unconsciousness for a prolonged period, unable to be awakened, typically due to illness or injury.