Billion government budget deficit

Assignment Help Microeconomics
Reference no: EM131904650

Consider three different closed economies with the following national income statistics. Country A has taxes of $40 billion, transfers of $20 billion, and government expenditures on goods and services of $30 billion. County B has private savings of $60 billion, and investment expenditures of $50 billion. Country C has GDP of $300 billion, investment of $70, consumption of $180 billion, taxes of $60 billion and transfers of $20 billion. From this information we know that there is a $10 billion government budget deficit for

a.only country A.

b.only country B.

c.only country C.

d.all three countries.

Can someone explain how you get this answer? Like the formulas you use and what numbers go with those formulas?

Reference no: EM131904650

Questions Cloud

Size of the labour force on gdp per capita : Considering the Solow model, what will be the effect of an immediate doubling of the size of the labour force on GDP per capita? What is the effect in the long
What might joe do or say to show that he is hearing content : What more can Joe do to encourage the other party to share more so that he can truly understand what the party is truly thinking and feeling?
Tax on a worker income : Suppose the government imposes a 25% tax on a worker's income. Using the search model, explain how this affects the equilibrium wage rate, the unemployment rate
How did ideas of liberty and freedom connect to the creation : In at least 500 words answer the following questions: How did these ideas of liberty and freedom connect to the creation of the Constitution?
Billion government budget deficit : Country C has GDP of $300 billion, investment of $70, consumption of $180 billion, taxes of $60 billion and transfers of $20 billion.
Talking about oil as the product for discussion : If you were the CEO of "Hess" Oil company what are the Comparative Advantages and International Trade Opportunities for the company
What were your focusing topics or ideas : Began by summarizing your interview. What were your focusing topics or ideas? How did your interviewee answer questions or respond to topics?
Why is each one so important to a successful project : What does each of these terms mean with respect to a project scope statement?Why is each one so important to a successful project?
Control the prices of most food items : Suppose that the government decided to control the prices of most food items (think about the government imposing some price ceiling on the prices of all food

Reviews

Write a Review

Microeconomics Questions & Answers

  Effects on exchange rate in british pound and japanese yen

Suppose the government cuts its purchases through $120 billion. As a result, budget deficit is decreased by $40 billion, private domestic saving reduced by $10 billion,

  Show that the tangent of a tangent is zero

Express the scalar product of two blades in terms of the scalar product of their duals. It should only differ by a sign, which you should express in terms of the grade of the blades and the space they reside in.

  Describe how the risk premium on corporate securities affect

Describe how the risk premium on corporate securities affects the relationship between the savings rate and the rate of consumption.

  When the economy in the region tanked

When the economy in the region tanked, he could no longer cover his losses with new debt or equity infusions, and the whole empire fell like a house of cards.

  Determine the degree of homo- geneity of the function

What should the relations between α, β, and γ be in order to have a constant returns to scale? Increasing or decreasing returns to scale?

  Calculate the actual value of change in consumer surplus

Does Australia face an increasing opportunity cost of ethanol? What feature of Australia's PPF illustrates increasing opportunity cost? Explain - Draw a graph and analyse what would happen to the domestic supply of rice and supply curve, consumer ..

  Companys product versus the top retailers in the industry

"New Product Development and the Product Life Cycle" - Determine the primary way in which you would convey the advantage of your company's product versus the top retailers in the industry.

  Write an essay about nelson vs colorado

Write an essay (our usual 2 - 5 page, double-spaced) about Nelson v. Colorado. What are the key issues involved? How do you think the Court will rule? If you were on the Supreme Court, how would you rule, and why?

  Comparison between information entered directly

How would scanning records contribute to the accuracy and completeness of the EHR?

  Estimate the equilibrium point

Shows supply and demand curves for the Furby market before Furby toys were popular - Estimate the equilibrium point. What does it represent

  Two hazardous environment facilities are being evaluated

two hazardous environment facilities are being evaluated with the projected life of each facility being 10 years. the

  What is the marginal revenue from the last unit sold

What is the optimal level of output for your company to produce/sell? What is the marginal revenue from the last unit sold?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd