In a closed economy, the gross domestic product is $45,000, consumption is $17,300 and taxes are $8,200. If the national saving is 9,000, then this government will be running: Select one: a. A budget surplus of $10,500 b. None of the answers are correct c. A budget deficit of $10,500 d. A budget surplus of $18,700
In a closed economy, the gross domestic product is $45,000, consumption is $17,300 and taxes are $8,200. If the national saving is 9,000, then this government will be running: Select one: a. A budget surplus of $10,500 b. None of the answers are correct c. A budget deficit of $10,500 d. A budget surplus of $18,700
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![In a closed economy, the gross domestic product is
$45,000, consumption is $17,300 and taxes are
$8,200. If the national saving is 9,000, then this
government will be running:
Select one:
a. A budget surplus of $10,500
b. None of the answers are correct
c. A budget deficit of $10,500
d. A budget surplus of $18,700
e. A budget deficit of $18,700](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2d94efdc-4fcb-41e5-8d2b-3e4c66044f0e%2F1a1d6430-6b34-44ad-8fa0-8d5d1be12639%2F7kvqdug_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In a closed economy, the gross domestic product is
$45,000, consumption is $17,300 and taxes are
$8,200. If the national saving is 9,000, then this
government will be running:
Select one:
a. A budget surplus of $10,500
b. None of the answers are correct
c. A budget deficit of $10,500
d. A budget surplus of $18,700
e. A budget deficit of $18,700
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