Answer the next question(s) on the basis of the following data. All figures are in billions of dollars. Personal taxes $ 40 Social Security Contributions 15 Taxes on production and imports 20 Corporate income taxes 40 Transfer payments 22 U. S. exports 24 Undistributed corporate profits 35 Government purchases 90 Gross private domestic investment 75 U. S. imports 22 Personal consumption expenditures 250 Consumption of fixed capital 25 Net foreign factor income 10 Statistical discrepancy 0 GDP is:

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.