In a private closed economy, the equilibrium GDP is achieved where GDP equals: A)C + I_g. B)C - I_g. C)C + S. D)C - S.

Name: In a private closed economy, the equilibrium GDP is achieved where GDP equals: A)C + I g . B)C - I g . C)C + S. D)C - S.
Brand: Quizplus
Rating: 4.8 (33 reviews)

Question

Quizplus · Accepted Answer

In a private closed economy, equilibrium GDP is achieved where total output (GDP) equals total spending, which is the sum of consumption (C) and gross investment (I_g).

In a Private Closed Economy, the Equilibrium GDP Is Achieved