Consider the Following Information Describing a Closed Economy with No

question 54

Multiple Choice

Consider the following information describing a closed economy with no government and where aggregate output is demand determined.All dollar figures are in billions. TABLE 21-3 Refer to Table 21-3.At the equilibrium level of national income,desired saving ($billions) is

• A)$100.
• B)$300.
• C)$4000.
• D)$3900.
• E)$1000.

---

Definitions:

Statutory Damages

A new remedy enabling a court to award damages that it “considers just” under the circumstances, without requiring proof of damage or lost profits.

Punitive Damages

Damages in excess of the plaintiff’s actual losses, intended to punish the wrongdoer for outrageous or extreme behaviour; also known as exemplary damages.

Enhanced Injunction

A more forceful or comprehensive court order to prevent an action or to impose conditions on certain behaviors.

Damages

Monetary compensation to a victim.