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QUESTION 18 If personal consumption is $100, investment is $50, government purchases total $25, imports equal $20, and exports equal $10, then GDP…

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QUESTION 18

  1. If personal consumption is $100, investment is $50, government purchases total $25, imports equal $20, and exports equal $10, then GDP equals:
    A.$175B.$165C.$155D.$145

1.6 points   QUESTION 19

  1. Which is an example of a normative question?A.What are the long-term effects of unemployment?
    B.How do interest rates influence employment?C.How do unemployment rates differ among nations?D.How should a society achieve full employment?

1.6 points   QUESTION 20

  1. Suppose that a customer’s willingness to pay for a product is $5, and the seller’s willingness to sell is $2. If the negotiated price is $3, how much is consumer surplus?
    A.$1B.$2C.$5D.$8
 
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