Consumption is 1000, exports 300, government purchases 350, investment 600, gove

Question

Consumption is 1000, exports 300, government purchases 350, investment 600, government transfers 450 and imports 500. What is the level of aggregate expenditures?

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Question 21 pts

Exports are $800 billion, imports are $900 billion. Which of the following are true?

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Question 31 pts

The differences between the Net Export component for most of the 20th century and today are:

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Question 41 pts

The major function of local government is:

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Question 51 pts

Which is the most accurate statement?

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Question 61 pts

If Person A earns a salary of $40,000 and Person B earns a salary of $800,000:

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Question 71 pts

Net exports have been negative for the U.S. for years.

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Question 81 pts

Which statement is true?

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Question 91 pts

International trade:

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Question 101 pts

The public sector today is smaller than it was 50 years ago.

Explanation / Answer

(Q 1) 1750

Aggregate expenditure = Consumption + Investment + Government spending + Exports - Imports

= 1000 + 600 + 350 + 300 - 500

= 1750

(Q 21) Option (B)

Net exports ($ Billion) = Exports - Imports = 800 - 900 = - 100

Negative net exports indicate trade deficit.

(Q 31) Option (A)

For most part of 20th century, US Trade balance was positive and less than 1% of GDP. Currently it is negative and more than 1% of GDP.

(Q 41) Option (C)

Law enforcement is major task of local government.

NOTE: As per Chegg answering guideline, first 4 questions are answered.

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