A laissez-faire economy is one where there is no interference within the government, so that's not correct.
There's no such thing as a public-goods economy (according to google at least), but public goods are things that the government provides for the most part. It's accessible by everyone.
A free-market economy is where the government has little to no control, similar to a <span>laissez-faire economy, so that's not right.
Your question is literally the definition of a command economy, so that's right!</span>
Answer:
hmmm i never think about that
Answer:
I never had this but I think its A
Explanation:
If i'm wrong then i'm sorry
Answer: Consumption = $6 trillion
government purchases = $1.3 trillion
national saving = $0.7 trillion and
investment = $0.7 trillion
Explanation:GDP is the market value of all final goods and services within an economy during a given period.
GDP = Consumption + Investment/National Savings + Government Expenditure/purchases (in a closed economy)
National Savings/ Investment = Private saving + public saving = $0.5 trillion +$ 0.2 trillion = $0.7 trillion.
Government purchases = Taxes - Public saving = $1.5 trillion - $0.2 trillion = $1.3 trillion
Since, GDP = Consumption + Investment/National Savings + Government Expenditure/purchases (in a closed economy)
Therefore, Consumption = GDP - Investment - Government Expenditure
Consumption = $8trillion - $0.7trillion - $1.3trillion = $6 trillion
