Suppose that in a closed economy GDP is equal to 11,000, Taxes are equal to 2,500, Consumption equals 7,000, and Government purchases equal 3,000. What are private saving and public saving?a. 1500 and -500b. 1500 and 500c. 1000 and -500d. 1000 and 500ANS: A PTS: 1 DIF: 2 ...
A closed economy typically refers to a country that does not trade or engage in other financial exchanges with any other country. That means no imports come into the country and no exports leave it. The goal of a closed economy is complete self-sufficiency, providing domestic consumers with ev...
In a closed economy a rise in aggregate demand is needed to increase output in the country. What is necessary to achieve this increase in output in the economy?A.enough capacity to produce the extra goods and services demandedB.free trade to allow imports to make up any shortages in supply...
The International Monetary Fund recently projected that the Chinese economy will grow 5.2 percent and account for a third of global growth this year. No doubt China is a key contributor to global growth and a major player in global supply chains, in particular, in the post-COVID era. Facing...
"what kind of world we need and how to build such a world" has become a vital question with the future of humanity at stake. china's answer to this question of the times is to build a global community of shared future. it mea...
In a closed economy, the fact that total income equals total expenditure is reflected by the GDP identity Y = C + I + G.a.Starting from the GDP identity, show that national saving (S) must be equal to investment. Show that an increase in government spending reduces national saving.b....
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Robert Lighthizer: The way you prevent wars is by having the strongest, biggest, best army, biggest, best navy-- best economy in the world, best technology. You do those things, the allies come to you. They see you as the future. Scott Pelley: Already...
China's central bank will step up policy support for economy, and liquidity is more than “reasonably ample”; The cabinet called for efforts to stabilise the job market. Here’s what you need to know about China in the past 24 hours ...