Assume that net exports are 340 private investment is 1500 tax revenues are 800

Assume that net exports are 340 private investment is

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167.Assume that net exports are -$340, private investment is $1500, tax revenues are $800, government purchases are $2000, and GDP - using the expenditure approach - is $9,000. In this case, consumption expenditures must be a.$1,840b.$12,960c.$5,840d.$4,360e.$5,160ANS: CPTS:1DIF:3NAT:Financial theories, analysis, reporting, and marketsLOC:Unemployment and inflationTOP:An Expenditure Approach to GDP 168.Which of the following is the correct formula for computing GDP? 169.Using the table below, calculate GDP:Wages and Salaries$1,000Government Purchases$300Exports$400Rental Income$150Profit$400Interest$250Consumption Spending$1,200Imports$600Private Investment Spending $500
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170.If consumption expenditures increased by $150 million, while GDP remained the same, which of the following could have occurred, all else equal? 171.Which of the following would notbe included in government purchases? a.The purchase of a computer by a government agencyb.Welfare paymentsc.Wages of government employeesd.The purchase of a police care.Spending on a new missile programANS: BPTS:1DIF:2NAT:Financial theories, analysis, reporting, and marketsLOC:Unemployment and inflationTOP:An Expenditure Approach to GDP 172.Inventory changes (that is, goods produced but not sold) are important in calculating GDP because
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