The Following Table Provides Data for an Economy in a Certain

question 115

Multiple Choice

The following table provides data for an economy in a certain year. $$\begin{array} { l r } \text { Consumption expenditures } & 1,000 \\\text { Imports } & 600 \\\text { Government purchases of goods and services } & 700 \\\text { Construction of new homes and apartments } & 500 \\\text { Sales of existing homes and apartments } & 600 \\\text { Exports } & 500 \\\text { Government payments to retirees } & 200 \\\text { Household purchases of durable goods } & 300 \\\text { Beginning-of-year inventory } & 500 \\\text { End-of-year inventory } & 600 \\\text { Business fixed investment } & 300\end{array}$$
Given the data in the table,how much did households spend on nondurables and services?

• A)300
• B)700
• C)1,000
• D)1,300

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Definitions:

Flatter

Describes a structure or hierarchy that has fewer levels, often leading to a broader span of control and potentially more decentralized decision-making.

Demand Curves

A demand curve represents the relationship between the quantity of a good demanded and its price, typically showing an inverse relationship.

Shift Right

In economic terms, a shift to the right of a demand or supply curve represents an increase in demand or supply.

Remaining Firms

The number of businesses that continue to operate in a market after others have exited, often in response to economic conditions or competitive pressures.