Refer to the information provided in Table 24.8 below to answer the question(s) that follow.
Table 24.8
All Figures in Billions of Dollars
-Refer to Table 24.8. The economy is at the equilibrium level of output. If government spending decreases by $50 billion, the new equilibrium level of output is
A) $3,100 billion.
B) $2,400 billion.
C) $1,550 billion.
D) $1,450 billion.
Correct Answer:
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