Scenario 26-1

question 49

Multiple Choice

Scenario 26-1.Assume the following information for an imaginary,closed economy.
GDP = $100,000;taxes = $22,000;government purchases = $25,000;national
saving = $15,000.
-Refer to Scenario 26-1.This economy's government is running a

• A)budget surplus of $3,000.
• B)budget surplus of $12,000.
• C)budget deficit of $3,000.
• D)budget deficit of $12,000.

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Definitions:

New York

A state in the northeastern U.S., known for its cultural, financial, and commercial importance, particularly in its largest city, New York City.

Immigrants

Individuals who move from one country to another with the intention of settling or residing there.

United States

A country located in North America, consisting of 50 states and a federal district, known for its significant cultural, economic, and political influence globally.

Dominant Industry

An industry that holds a commanding position within an economy, often driving economic growth, attracting a significant portion of investments, and influencing labor markets.