In a country, the following components of aggregate demand (AD) are given:

• Consumption (C) = £400 billion
• Investment (I) = £200 billion
• Government Spending (G) = £300 billion
• Exports (X) = £150 billion
• Imports (M) = £100 billion

Calculate the net exports for the country.

Your answer is billion?

A good or service would be considered as an inferior if its income elasticity of demand is:

If the quantity demanded increases from 100 to 150 when the price decreases from $10 to $8, calculate the price elasticity of demand. 

In a country, the total labour force is 1,500,000. The unemployment rate is 12%. If the number of employed individuals increases by 50,000, what will the new unemployment rate be? (Give your answer to the nearest 2 decimal places).

Consumer surplus is:

The free rider problem occurs: