1. Which is a closed economy?

a. High consumption, low taxes, and trade deficit.b. High consumption, high investment, high government spending and trade balance.

c. High consumption, government surplus and zero trade.

d. Low consumption, government surplus and trade surplus

2. Hypothetical economy of Coffeeand sugar

Given :P of coffeeQ of coffeeP ofsugarQ of sugar

years: 2016 - P7590P4075

2017- P8392P4380

2018- P 8895P4570

What is the nominal GDP in2018?

A. 11,176B. 11, 671

C. 11,076

D. 11,607

3. Hypothetical economy of Coffeeand sugar

Given :P of coffeeQ of coffeeP ofsugarQ of sugar

years: 2016 - P7590P4075

2017- P8392P4380

2018- P 8895P4570

What is the GDP deflator in 2018?

A. 115.9%b. 151.9%

c. 119.5%

d. 191.5%

4.Hypothetical economy of Coffeeand sugar

Given :P of coffeeQ of coffeeP ofsugarQ of sugar

years: 2016 - P7590P4075

2017- P8392P4380

2018- P 8895P4570

What is the real GDP in 2018?

a.9,259

b.9,925

c.9,952

d.9,995

5. What is not a component of the GDP?

a. Consumption goods

b. Investment spending by firms on capital goods

c. Public sector's own demand for goods

d.Employment rate