Suppose that in a closed economy GDP is 11,000,consumption is 7,500,and taxes are 2,000.What value of Government purchases would make national savings equal to 1000 and at that value would the government have a deficit or surplus?
A) 2,500, deficit
B) 2,500, surplus
C) 1,000, deficit
D) 1,000, surplus
Correct Answer:
Verified
Q16: In a closed economy,what remains after paying
Q17: In a closed economy,what does (T -
Q32: According to the definitions of private and
Q131: Suppose the economy is closed and that
Q134: Suppose that in a closed economy GDP
Q135: In examining the national income accounts of
Q139: Suppose that in a closed economy GDP
Q140: Suppose the economy is closed and consumption
Q141: Tom buys a bond issued by Budweiser,which
Q233: The country of Meditor uses the merit
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents