Question
In 2019, the GDP of the United States was $19.00 trillion. (All figures are in terms of constant 2012 dollars.) In that year, private consumption
In 2019, the GDP of the United States was $19.00 trillion. (All figures are in terms of constant 2012 dollars.) In that year, private consumption was $13.28 trillion, investment was $3.42 trillion, and government expenditure was $3.30 trillion. Based on the fundamental macroeconomic identity, how large was the US trade deficit?
a. $5.70 trillion.
b. $0.95 trillion.
c.$1.00 trillion.
d. -$0.95 trillion.
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Income Tax Fundamentals 2015
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
33rd Edition
9781305177772
