Difficulty: Medium Figure 13-4

question 41

Multiple Choice

Difficulty: Medium Figure 13-4
-Refer to Figure 13-4. Let Y = real GDP, AE = Aggregate Expenditures, C = Consumption,
I_P = Planned Investment. Suppose AE = C + I_P. I_P is autonomous and the consumption function is C = $1,000 billion + 0.5Y. If real GDP = $5,000 billion, what is the amount of aggregate expenditures?

• A) $4,500 billion
• B) $5,000 billion
• C) $5,500 billion
• D) $6,000 billion

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Definitions:

Assembly Language

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ASCII Character Set

A character encoding standard for electronic communication, representing text in computers, encoding 128 specified characters.

Unicode Character Set

The Unicode Character Set is a computing industry standard designed to consistently encode, represent, and handle text expressed in most of the world's writing systems.

John Von Neumann

A pioneering computer scientist, mathematician, and physicist known for his contributions to game theory, computer architecture, and quantum mechanics.