Refer to the Following Table When Answering
Table

question 29

Multiple Choice

Refer to the following table when answering
Table 2.1: U.S. 2011-2012 Expenditures ($ billions)
$$\begin{array} { l | c c } \hline & 2011 & 2012 \\\hline \text { Personal consumption expenditures } & 10,729 & 11,120 \\\text { Goods } & 3,625 & 3,783 \\\text { Services } & 7,104 & 7,337 \\\text { Gross private domestic investment } & 1,855 & 2,062 \\\text { Fixed investment } & 1,818 & 2,004 \\\text { Change in private inventories } & 37 & 58 \\\text { Net exports of goods and services } & - 568 & - 560 \\\text { Exports } & 2,094 & 2,184 \\\text { Imports } & 2,662 & 2,744 \\\text { Government expenditures } & 3,060 & 3,063 \\\text { Federal } & 1,222 & 1,214 \\\text { State and local } & 1,838 & 1,849 \\\hline\end{array}$$
-Consider Table 2.1, which tabulates GDP for 2011-2012. Total GDP in 2011 is:

• A) $35,476 billion
• B) $15,076 billion
• C) $15,644 billion
• D) $10,092 billion
• E) $6,382 billion

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Definitions:

Financing Statement

A document filed by a creditor to give public notice to third parties of the creditor's interest in the debtor's personal property used as collateral.

Security Interest

A legal claim or lien on collateral that gives a creditor the right to possess and sell the asset if the debtor fails to meet the obligations of a loan agreement.

Repossess

The act of taking back ownership of property, typically by a lender or seller, from the borrower or buyer due to failure to meet repayment terms.

Financing Statement

A financing statement is a document filed by a creditor to indicate a security interest in the assets of a debtor, typically used in relation to secured transactions.