In a Small Economy,consumption Spending in 2013 Is $6,000,government Spending

question 212

Multiple Choice

In a small economy,consumption spending in 2013 is $6,000,government spending is $1,200,gross investment is $1,500,exports are $2,000,and imports are $1,000.What is gross domestic product in 2013?

• A)$9,700
• B)$9,800
• C)$10,800
• D)$11,700

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Definitions:

Canada

A country located in the northern part of North America, consisting of ten provinces and three territories, extending from the Atlantic to the Pacific Ocean.

Nuclear Family

A family group consisting of parents (usually a mother and father) and their children, living together as a single unit.

Post-World War II

The period following the end of World War II in 1945, marked by significant geopolitical, social, and economic changes worldwide.

Cyclical

Pertaining to events or processes that occur in a repeating pattern or cycle, often observed in economies and natural phenomena.