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The Table Given Below States the Value of the GDP

Question 2

Multiple Choice

The table given below states the value of the GDP and the different components of aggregate expenditure for two years.
Table 10.1
 GDP CIG Export  Import  Year 1 $750$110$60$70$50 Year 2 $1,150$930$90$75$125\begin{array}{|c|c|c|c|c|c|c|}\hline & \text { GDP } & \boldsymbol{C} & \boldsymbol{I} & \mathbf{G} & \text { Export } & \text { Import } \\\hline \text { Year 1 } & - & \$ 750 & \$ 110 & \$ 60 & \$ 70 & \$ 50 \\\hline \text { Year 2 } & \$ 1,150 & \$ 930 & \$ 90 & \$ 75 & \$ 125 & - \\\hline\end{array}
-Refer to Table 10.1. What is the equilibrium level of real GDP in year 1?


A) $940
B) $1,040
C) $1,100
D) $1,050
E) $920

Correct Answer:

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