Refer to the diagram, which applies to a private closed economy. If gross investment is Ig1, the equilibrium GDP and the level of consumption will be
A) H and HB, respectively.
B) J and JI, respectively.
C) J and JK, respectively.
D) H and HF, respectively.

Question

Refer to the diagram, which applies to a private closed economy. If gross investment is Ig1, the equilibrium GDP and the level of consumption will be
A) H and HB, respectively. 
B) J and JI, respectively. 
C) J and JK, respectively. 
D) H and HF, respectively.

Quizplus · Accepted Answer

The Answer of  Refer to the diagram, which applies to a private closed economy. If gross investment is Ig1, the equilibrium GDP and the level of consumption will be
A) H and HB, respectively. 
B) J and JI, respectively. 
C) J and JK, respectively. 
D) H and HF, respectively.

Refer to the Diagram, Which Applies to a Private Closed