Answer:
The amount of net exports of goods and services is -$1 million.
Explanation:
The gross domestic product (GDP) is equal to the total value of the products and services that are produced in a country in a specific period of time. In this case, we will have that GDP would be:
GDP= I+G+NX
I= investment
G= government expenditure
NX= net exports
Then, we replace the formula and isolate NX:
$12=$5.5+$7.5+NX
NX= $12-$5.5-$7.5
NX= -$1
John most likely lives in a<u> "planned economy".</u>
A planned economy is a sort of financial framework where venture and the assignment of capital merchandise happen as per vast monetary and creation designs. A planned economy may utilize brought together, decentralized or participatory types of financial planning. A planned economy is a monetary framework in which the administration controls and manages generation, dispersion, costs, etc.
Answer:
Cultural intermingling
Explanation:
globalization bring about cultural intermingling which can be a negative effect when it leads to abandonment of culture. because globalization mixed different cultures. then people reconsidered their rules and customs regarding their culture as primitive, thereby adopting the western culture and abandoning their own.
Answer:
C) the industry would more closely approximate pure competition
Explanation:
A monopolistically competitive industry is one with different firms selling similar products that are slightly differentiated. It is very easy for firms to enter into industries that are monopolistically competitive. They also have the autonomy to increase their prices.
If the number of firms in a monopolistically competitive industry increases and the degree of product differentiation diminishes they would then resemble a pure competition because they would all be selling identical products which would result in little or no competition.
