Suppose That in a Closed Economy GDP Is Equal to 12,000,taxes

question 138

Multiple Choice

Suppose that in a closed economy GDP is equal to 12,000,taxes are equal to 1500,consumption is equal to 6800,and government expenditures are equal to 3200.What is national saving?

• A) 500
• B) 2000
• C) 2700
• D) 4200

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Definitions:

Average Revenue

The revenue a company receives per unit of goods or services sold, calculated by dividing total revenue by the number of units sold.

Monopolist

An individual or entity that holds a monopoly in a market, being the sole provider of a particular product or service, facing no direct competition.

Geographic Location

The specific physical positioning or area of an entity on the Earth's surface.

Price Discrimination

The strategy of selling the same product to different buyers at different prices based on buyers' willingness to pay, not differences in production costs.