Multiple Choice
Suppose that in a closed economy GDP is 11,000, consumption is 7,500, and taxes are 2,000. What value of government purchases would make national savings equal to 1,000 and at that value would the government have a deficit or surplus?
A) 2,500, deficit
B) 2,500, surplus
C) 1,000, deficit
D) 1,000, surplus
Correct Answer:
Verified
Correct Answer:
Verified
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