Scenario 26-3

question 52

Multiple Choice

Scenario 26-3.Assume the following information for an imaginary,open economy.
Consumption = $1,000;investment = $200;net exports = -$50;
taxes = $230;private saving = $225;and national saving = $150.
-Refer to Scenario 26-3.For this economy,government purchases amount to

• A)$330.
• B)$280.
• C)$305.
• D)$310.

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Definitions:

Private Property

Most basic freedom under the private enterprise system; the right to own, use, buy, sell, and bequeath land, buildings, machinery, equipment, patents, individual possessions, and various intangible kinds of property.

High-Quality

Refers to products, services, or processes that meet or exceed established standards and customer expectations.

Competitive Goods

Products or services that compete in the same market as others, appealing to the same set of consumers.

Not-For-Profit

Organizations that operate for purposes other than making a profit, often focusing on social, educational, or charitable activities.