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konstantin123 [22]
3 years ago
8

The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investm

ent ($320); imports ($35); exports ($22); personal consumption expenditures ($2,460); and, government purchases ($470). What is GDP in this economy?A)$3,250 billionB)$3,263 billionC)$3,237 billionD)$3,290 billion
Business
1 answer:
DaniilM [7]3 years ago
4 0

Answer:

The answer is C)$3,237

Explanation:

GDP = private consumption + gross investment + government investment + government spending + (exports – imports).

GDP C+ I + G + (X_M)

GDP= 2460 + 320 + 470 + (22-35) = 3237

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Answer:

pay a wage rate less than labor's MRP

Explanation:

A monopsonistic employer in an unorganized (nonunion) labor market will: "pay a wage rate less than labor's MRP"

The above statement is based on the idea that Monopsony is a market situation whereby a single buyer or firm is the only purchaser of a good or service, which in most cases has to do with the purchase of labor.

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