Which Equation Most Simply Represents GDP in a Closed Economy

question 141

Multiple Choice

Which equation most simply represents GDP in a closed economy?

• A) Y = C + I + G
• B) S = I - G
• C) I = Y - C + G
• D) Y = C + I + G + NX

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Definitions:

Inorganic Compounds

Chemical substances that do not contain both carbon and hydrogen, exhibiting a wide range of physical and chemical properties.

Metabolism

The chemical processes within a living organism that are necessary for maintaining life, involving energy production and utilization.

Complex Carbohydrates

Carbohydrates consisting of long chains of glucose molecules, including starches and dietary fiber, which digest slower compared to simple carbohydrates.

Starches

Carbohydrates found in many plants, serving as an essential energy source for humans.