Suppose the economy is closed and consumption is 6,500, taxes are 1,500, and government purchases are 2,000. If national saving amounts to 1,000, then what is GDP?
A) 9,500
B) 10,000
C) 10,500
D) 11,000
Correct Answer:
Verified
Q16: In a closed economy,what remains after paying
Q27: In a closed economy,national saving is
A)usually greater
Q30: Which of the following expressions must be
Q34: According to the definitions of national saving
Q174: Consider the expressions T − G and
Q201: Suppose that in a closed economy GDP
Q203: If in a closed economy Y =
Q205: Suppose that in a closed economy GDP
Q208: Suppose the economy is closed with national
Q284: At some point during the financial crisis
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