Between 2014 and 2015, the exports of the U.S. economy decreased by $5 billion and its imports increased by $5 billion. All else equal? By how much has the GDP changed between the two years? Select one: O a. None of the answers are correct b. The change in net exports will increase GDP by $5 billion. O c. The change in net exports will decrease GDP by $5 billion. O d. The change net exports will decrease GDP by $10 billion. e. The decrease in exports is offset by the decrease in imports, so there is no change in net exports and no effect on GDP.

Between 2014 and 2015, the exports of the U.S. economy decreased by $5 billion and its imports increased by $5 billion. All else equal? By how much has the GDP changed between the two years? Select one: O a. None of the answers are correct b. The change in net exports will increase GDP by $5 billion. O c. The change in net exports will decrease GDP by $5 billion. O d. The change net exports will decrease GDP by $10 billion. e. The decrease in exports is offset by the decrease in imports, so there is no change in net exports and no effect on GDP.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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