Suppose That in a Closed Economy GDP Is Equal to 11,000

question 72

Multiple Choice

Suppose that in a closed economy GDP is equal to 11,000, taxes are equal to 1,500, consumption equals 7,500, and government purchases equal 2,000. What is national saving?

• A)-500
• B)0
• C)2,000
• D)None of the above is correct.

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Definitions:

Technical Skills

Competencies and knowledge required to perform specific tasks, often related to IT, engineering, or other specialized fields, involving practical expertise.

Human Development

The process of improving people's well-being through education, health care, and access to opportunities.

Career Advancement

The process of gaining higher level positions, increased responsibility, and better compensation within one's profession over time.

Cash Flow

The total amount of money being transferred into and out of a business, determining its liquidity, operational efficiency, and financial health.