Consider Three Different Closed Economies with the Following National Income

question 13

Multiple Choice

Consider three different closed economies with the following national income statistics.Country A has taxes of $40 billion,transfers of $20 billion,and government expenditures on goods and services of $30 billion.County B has private savings of $60 billion,and investment expenditures of $40 billion.Country C has GDP of $300 billion,investment of $90,consumption of $180 billion,taxes of $60 billion and transfers of $20 billion.From this information,we know that

• A)country A has the largest government budget deficit.
• B)country B has the largest government budget deficit.
• C)country C has the largest government budget deficit.
• D)The government budget deficit is equal in all three countries.

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Definitions:

Probability

A measure of the likelihood that an event will occur, often expressed as a number between 0 and 1.

Research Hypotheses

Research hypotheses are statements made by researchers predicting a relationship between two or more variables in a study.

Testing

The process of evaluating the functionality, performance, and reliability of a software or system.

Sampling Error

The error caused by observing a sample instead of the whole population, leading to potential discrepancies between the sample and population characteristics.