Author Question: Refer to the scenario above. What is the national income of the economy? A) 7,000 B) 10,000 C) ... (Read 22 times)

jeatrice · **on:** Jun 30, 2018

Refer to the scenario above. What is the national income of the economy?

A) 7,000 B) 10,000 C) 2,000 D) 5,000

Question 2

In a closed economy:

A) consumption is equal to zero. B) investment is equal to zero.
C) government spending is equal to zero. D) net exports is equal to zero.

In a closed economy, without the government, the consumption expenditure equals 5,000 and the investment expenditure equals 2,000.