Gross national expenditure in a closed economy is defined as:
A) government spending net of taxes.
B) personal consumption spending, government spending, and investment spending.
C) personal consumption spending, government spending, investment spending, and spending on exports.
D) production of consumer goods, government services, and capital goods.
Correct Answer:
Verified
Q1: The current account of the balance of
Q2: In national accounts data, which is the
Q3: The term net unilateral transfers refers to:
A)
Q4: Asset exports occur when domestic entities:
A) save
Q6: Income paid to factors is called:
A) national
Q7: Net factor income from abroad is defined
Q8: When calculating GDP in an open economy,
Q9: In a closed economy, income generated from
Q10: In a closed economy in which no
Q11: In an open economy, GNI is equal
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