Solved

Consider the Following Data A)2,400
B)3,600
C)4,200
D)4,600

Question 21

Multiple Choice

Consider the following data. What is the equilibrium GDP in this economy (in millions of dollars) ?  Real GDP  (millions of  dollars)   Consumptio n (millions of  dollars)   Investment  (millions of  dollars)   Government  Expenditure  (millions of  dollars)   Net Exports  (millions of  dollars)  040052555075600800525550751,2001,200525550751,8001,600525550752,4002,000525550753,0002,400525550753,6002,800525550754,2003,200525550754,8003,60052555075\begin{array} { | c | c | c | c | c | } \hline \begin{array} { c } \text { Real GDP } \\\text { (millions of } \\\text { dollars) }\end{array} & \begin{array} { c } \text { Consumptio } \\\mathbf { n } \\\text { (millions of } \\\text { dollars) }\end{array} & \begin{array} { c } \text { Investment } \\\text { (millions of } \\\text { dollars) }\end{array} & \begin{array} { c } \text { Government } \\\text { Expenditure } \\\text { (millions of } \\\text { dollars) }\end{array} & \begin{array} { c } \text { Net Exports } \\\text { (millions of } \\\text { dollars) }\end{array} \\\hline 0 & 400 & 525 & 550 & - 75 \\\hline 600 & 800 & 525 & 550 & - 75 \\\hline 1,200 & 1,200 & 525 & 550 & - 75 \\\hline 1,800 & 1,600 & 525 & 550 & - 75 \\\hline 2,400 & 2,000 & 525 & 550 & - 75 \\\hline 3,000 & 2,400 & 525 & 550 & - 75 \\\hline 3,600 & 2,800 & 525 & 550 & - 75 \\\hline 4,200 & 3,200 & 525 & 550 & - 75 \\\hline 4,800 & 3,600 & 525 & 550 & - 75 \\\hline\end{array}


A) 2,400
B) 3,600
C) 4,200
D) 4,600

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents