In 2019, consumer spending was $16,000; investment spending was $4,000; and net exports were –$600. If GDP in 2019 was $23,000, government purchases of goods and services were _________. a. $3,000 b. $3,500 c. $3,600 d. $2,600

In 2019, consumer spending was $16,000; investment spending was $4,000; and net exports were –$600. If GDP in 2019 was $23,000, government purchases of goods and services were _________. a. $3,000 b. $3,500 c. $3,600 d. $2,600

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In 2019, consumer spending was $16,000; investment spending was $4,000; and net exports were –$600. If GDP in 2019 was $23,000, government purchases of goods and services were _________.

a.

$3,000

b.

$3,500

c.

$3,600

d.

$2,600

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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