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1) What is the value of GDP in Micronia?
a)670
b)650
c)770
d)750
2) What is the value of net exports?
a) $0
b) $40
c) $20
d) Cannot be determined from the information provided.
3) What is the value of disposable income?
a) $850
b) $650
c) Cannot be determined from the information provided.
d) $750
4)The total flow of money out of households (the sum of taxes paid and consumer spending) is _____ the total flow of money into households.
a) greater than
b) equal to
c) less than
5) The government of Micronia finances its purchases of goods and services with what type of revenue?
a) import revenue
b) interest
c) tax revenue
a company desires to estimate the cost of building a 600-mw fossil-fuel plant for the assembly of its new long-distance
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Mr. Smith has a weekly income of M = $24. Initially the prices of Xand Y are both $2/unit and Mr. Smith buys 6 units each of X and Yeach week, a bundle on indifference curve I0. Then, ceterisparibus, the price of X increases to $4/unit
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in a country output is produced with labor and physical capital. the production function in per-worker terms is yk12.
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