The Country of Yokovia Does Not Trade with Any Other

question 26

Multiple Choice

The country of Yokovia does not trade with any other country.Its GDP is $20 billion.Its government collects $2 billion in taxes.Consumption equals $15 billion and investment equals $2 billion.What is public saving in Yokovia,and what is the value of the goods and services purchased by the government of Yokovia?

• A)-$2 billion and $1 billion.
• B)$1 billion and $1 billion.
• C)-$1 billion and $3 billion.
• D)-$2 billion and $3 billion.

Understand the societal impacts and legal challenges of Prohibition during the 1920s.

Understand how technological improvements and wage changes affect the firm's use of capital and labor.

Understand the concepts of elastic and inelastic demand for resources, and how the presence of substitutes affects this elasticity.

Learn the effects of wage changes on the quantity of labor demanded and the elasticity of labor demand.

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Definitions:

Strecker Synthesis

A chemical reaction for synthesizing amino acids by reacting an aldehyde with ammonium chloride and potassium cyanide, followed by hydrolysis.

Racemic Alanine

A mixture of equal parts of the D- and L-enantiomers of alanine, making it optically inactive due to the internal compensation of optical activity.

Acetaldehyde

A volatile, colorless, and flammable liquid organic compound, used as an intermediate in the synthesis of various chemicals.

3-Methylthiopropanal

An organic compound characterized by a three-carbon aldehyde functional group attached to a sulfur atom-containing methyl group.