-Use the Figure Above to Answer This Question

question 44

Multiple Choice

-Use the figure above to answer this question. Suppose the economy is operating at point a. A move to could be explained by .

• A) point b; an increase in real GDP
• B) point b; an increase in interest rates
• C) point e; an increase in U.S. exports
• D) point c; an increase in the use of credit cards

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Definitions:

Economic Resources

The assets and inputs required for the production of goods and services, including land, labor, capital, and entrepreneurship.

Per Capita GDP

The gross domestic product of a country divided by its population, providing a per person average that helps in comparing economic well-being across different nations.

Population

The total number of people inhabiting a specific area or country.

Compiling GDP

The process of calculating the gross domestic product of a country, involving summing the total value of all goods and services produced.