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Annette [7]
3 years ago
7

What does the process of specialization do for an economy?

Business
1 answer:
Rainbow [258]3 years ago
7 0
It makes production more efficient
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Without any restrictions in a perfectly competitive market, if there is a sudden rightward shift in the demand for a good: a) se
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Answer: B

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6 0
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The country of Growpaw does not trade with any other country. Its GDP is $20 billion. Its government purchases $3 billion worth
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Answer:

option a) 5 billion

Explanation:

Data provided in the question:

GDP = $20 billion

Cost of goods and services = $3 billion

Tax collected = $6 billion

Transfer payments to households = $2 billion

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Now,

Disposable income = GDP - taxes + transfer payments

=$20 billion - $6 billion + $2 billion

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Investment = GDP - consumption - government purchases

= $20 billion - $12 billion - $3 billion

= $5 billion

Hence,

the correct answer is option a) 5 billion

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