Saudi Arabia USOil Quantity Car Quantity Oil Quantity Car Quantity0 4 0 10200 3 100 7.5400 2 200 5600 1 300 2.5800 0 400 0Suppose that, in fact, Saudi Arabia consumes 300 million barrels of oil and 4 million cars, while the United States consumes 500 million barrels of oil and 6 million cars. Also assume that for each country, the value of imports equals the value of exports. How many barrels of oil does the US import?

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Determine if the following statements are true or false. an increase in government spending can crowd out private investment. an improvement in the budget balance increases the demand for financial capital. an increase in private consumption may crowd out private investment. lower interest rates can lead to private investment being crowded out. a trade balance in sur+ increases the supply of financial capital. if private savings is equal to private investment, then there is neither a budget sur+ nor a budget deficit.

Most economists report the elasticity of demand asa. the absolute value of the actual number. b. a negative number, since price and quantity demanded move in opposite directions. c. a percentage, since both the numerator and denominator are percentages. d. a dollar amount, since we are measuring the change in price.