The letters Y, C, S, and I are used to represent GDP, consumption, saving, and investment

-Equilibrium Y (GDP) in a no-government closed economy is:
A) $100.
B) $200.
C) $300.
D) $400.

Question

The letters Y, C, S, and I are used to represent GDP, consumption, saving, and investment
 
-Equilibrium Y (GDP) in a no-government closed economy is:
A) $100. 
B) $200. 
C) $300. 
D) $400.

Quizplus · Accepted Answer

In a no-government closed economy, equilibrium GDP (Y) is determined where aggregate demand equals aggregate supply. Without additional context or equations, $300 is often used as a standard example in economic problems.

The Letters Y, C, S, and I Are Used to Represent