ECON 1000 Midterm: ECON 1000 Kennesaw State ECON1000 Summer2018 Exam2BB Key
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Consider a situation in which allison gains , brad gains , and chloe loses . Based upon this information alone, it appears as if this is a _________ outcome in a _________ environment. win-lose; negative-sum. Government spending as a percentage of gdp in the united states stands at 39. 53% in 2018. This figure is estimated to remain roughly constant over the next two years, at 40. 00% in 2019 and 40. 26% in 2020. According to the depiction provided by the expanded circular flow diagram, government collects taxes from both domestic households and domestic firms (but not from any foreign sources). Suppose that county z were to realize a constant gdp growth rate of 3% per year. It follows that real gdp would double in roughly ________ years. A(n) ____________ good is one for which it is difficult (or very costly) to prevent consumption by those who do not pay for the good.
