no need for explanations just want to double check work, i appreciate it.

1) The fundamental problem facing financial institutions in 2008-2012 was:

a) excessive taxes on mortgage backed securities

b) an excess demand for consumer and investment goods

c) losses on foreign investments by U.S. businesses

d) higher than normal amounts of uncollectible loans

2) When countries specialize in their production of goods and services according to their comparative advantages, the chief benefit to the global economy is:

a) higher interest rates for investors

b) extra output due to gains from trade

c) the removal of scarcity as an economic problem

d) an increase in the rate of inflation

3) A financial system becomes highly leveraged when there are:

a) Declines in the demand for consumer durables and capital equipment

b) Sustained declines in stock prices

c) Increases in the number of unpaid mortgages

d) High levels of borrowing to purchase assets

4) One of the necessary results of scarcity is that:

a) Resources are allocated according to the public interest

b) Opportunity costs exist

c) Property is private owned

d) Markets will emerge

Question 5:

Assume the data are from the national income and product accounts for a national economy for 2018.

GDP4000

NDP3700

TAX REVENUE800

EXPORTS200

IMPORTS250

GOVT. PURCHASES500

CONSUMPTION2700

GROSS INVESTMENT850

How much depreciation occurred during 2018?

a) 750

b) 1300

c) 1050

d) 300