In 2015, Net Exports Accounted for About ________ Percent of Total

question 24

Multiple Choice

In 2015, net exports accounted for about ________ percent of total GDP.

• A) -3
• B) 13
• C) 20
• D) 100
• E) -14

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Definitions:

Total Product

The total output of goods or services produced by a firm or industry within a specified period.

Negative Marginal Returns

A situation where adding an additional factor of production results in lower output per unit.

Fixed Input

Inputs that remain constant for a period of time and do not change with the level of output.

Total Variable Cost

The sum of expenses that vary directly with the level of production, such as raw materials and direct labor.