Suppose That in a Closed Economy GDP Is Equal to 20,000,consumption

question 54

Multiple Choice

Suppose that in a closed economy GDP is equal to 20,000,consumption equal to 15,000,government purchases equal 4,000 and taxes equal 3,000.What are private saving,public saving,and national saving?

• A)-2,000,1,000,and 2,000,respectively.
• B)1,000,2,000,and 3,000,respectively.
• C)2,000,-1,000,and 1,000,respectively.
• D)2,000,1,000,and 2,000,respectively.

Demonstrate knowledge of how to adapt a business plan to different audiences, including investors.

Understand the purpose and uses of a business plan in articulating business strategy and goals.

Understanding different training methods and their effectiveness in various learning outcomes.

Recognizing the stages and importance of role-play in training.

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Definitions:

Terms 2/10, N/30

A set of credit terms that offer a discount of 2% if payment is made within 10 days; otherwise, the full invoice amount is due within 30 days.

Perpetual Inventory Method

An accounting practice where the inventory records are updated immediately after every addition or subtraction, providing a continuously accurate inventory level.

Journalize

The act of recording business transactions in the chronological accounting record known as the journal.

Terms 2/10, N/30

A payment term indicating that a buyer can take a 2% discount on the invoice amount if the payment is made within 10 days; otherwise, the full invoice amount must be paid within 30 days.