Suppose Ontario in a closed economy with GDP is equal to 20,000. Taxes are equal to 2000, consumption is equal to 12000, and government expenditures are equal to 3000. What is national saving?

Select one:

a.2000

b.15,000

c.5000

d.6000

Consider an economy with two inputs, labour and capital and constant returns to scale. If this economy doubled its physical capital stock, but kept the size of its labour force the same, how would the change in output compare to the change in productivity?

Select one:

a.output would stay the same and so would its productivity

b.output and productivity would increase, but by less than double

c.output and productivity would increase by more than double

d.output would increase by less than double, but productivity would double

Bob is choosing between two bonds in which to invest. One pays 7 percent interest and one that pays 10 percent interest. Which of the following situations is most likely?

Select one:

a.the 10 percent bond has a longer term than the 7 percent bond

b.the 10 percent bond is a Canadian Federal government bond, and the 7 percent bond is a Canadian provincial government bond

c.the 10 percent bond is less risky than the 7 percent bond

d.the 10 percent bond is a Canadian government bond, and the 7 percent bond is a junk bond

In 2016, El Salvador had a population of 6.3 million andReal GDPof $44,117 million. In 2017, it had a population of 6.4 million andReal GDPof $45,140 million. What was the approximate growth rate ofReal GDPin El Salvador between 2016 and 2017?

Select one:

a.1.5 percent

b.0 percent

c.0.7 percent

d.2.3 percent

Answer all of the questions as soon as possible.