The table given below shows the values of different components of aggregate expenditure of an economy.The equilibrium level of gross domestic product (GDP)is _____.
Table 9.2

A)$5.0 trillion
B)$5.5 trillion
C)$6.0 trillion
D)$6.5 trillion
E)$7.0 trillion

Question

The table given below shows the values of different components of aggregate expenditure of an economy.The equilibrium level of gross domestic product (GDP)is _____.​ ​
Table 9.2
​

A)$5.0 trillion 
B)$5.5 trillion​ 
C)$6.0 trillion​ 
D)$6.5 trillion​ 
E)$7.0 trillion

Quizplus · Accepted Answer

The equilibrium level of GDP is determined by the point where aggregate expenditure equals GDP. From the table given, we can see that at a price level of $100, the aggregate expenditure is $6.0 trillion, which is the same as the equilibrium level of GDP. Therefore, the answer is C) $6.0 trillion.

The Table Given Below Shows the Values of Different Components