You Have Some Estimates of National Accounts Numbers for a Closed

question 57

Multiple Choice

You have some estimates of national accounts numbers for a closed economy for the coming year.Under one set of expectations,government purchases will be $30 billion,transfer payments will be $10 billion,and taxes will be $45 billion.Under another set of expectations,GDP will be $200 billion,taxes will be $50 billion,transfer payments will be $20 billion,consumption will be $120 million,and investment will be $40 billion.Based on these numbers in the first case there should be a

• A)$15 billion surplus,and in the second case a $10 billion surplus.
• B)$15 billion surplus,and in the second case a $30 billion deficit.
• C)$5 billion surplus,and in the second case a $10 billion deficit.
• D)$5 billion surplus,and in the second case a $30 billion deficit.

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Definitions:

Korean Cosmetics

Beauty products originating from South Korea, known for their innovative formulas and packaging, heavily influenced by cultural trends and skincare routines.

Face Oils

Skincare products composed of natural oils designed to hydrate, nourish, and rejuvenate the facial skin.

Balance Of Trade

A measure of the difference between exports from and imports into a country.

Disproportionately Higher

Significantly above the expected or average level, often used to describe quantities, values, or rates that far exceed what is normal or equitable.