Refer to the Information Provided in Table 24

question 248

Multiple Choice

Refer to the information provided in Table 24.8 below to answer the question(s) that follow.
Table 24.8
All Figures in Billions of Dollars

-Refer to Table 24.8. The economy is at the equilibrium level of output. If government spending decreases by $50 billion, the new equilibrium level of output is

• A) $3,100 billion.
• B) $2,400 billion.
• C) $1,550 billion.
• D) $1,450 billion.

---

Definitions:

Somalia

A country located on the Horn of Africa, known for its extensive coastline and history of maritime commerce.

Afghanistan

A landlocked country located in South Asia and Central Asia, known for its complex history of conflicts and strategic importance.

Foreign Aid

Financial assistance provided by one country to another, often to support economic development, humanitarian efforts, or political stability.

Developing Countries

Nations with low to middle industrialization levels and lower standards of living and Human Development Index (HDI) compared to developed countries.