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Question 15 (2 points) Consider an economy in which consumption is 9,500, taxes are 2,000, and government expenditures are 3,500. If national saving is 2,500
Question 15 (2 points) Consider an economy in which consumption is 9,500, taxes are 2,000, and government expenditures are 3,500. If national saving is 2,500 and the economy is closed, what is the GDP? 17,500 13,500 OOO 15,500 13,000 Question 16 (2 points) Consider the country of Macroland, which uses the merit as its currency. Recent national income statistics shows that it has GDP of 900 million merits, no government transfer payments, taxes of 320 million merits, a budget surplus of 70 million merits, and investment of 300 million merits. What is the sum of its consumption and government expenditures? O 600 million merits 690 million merits OOO 280 million merits 350 million merits
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