-In the Above Table, C Is Consumption Expenditure, I Is

question 40

Multiple Choice

-In the above table, C is consumption expenditure, I is investment, G is government expenditure, and NX is net exports. All entries are in dollars. The equilibrium level of real GDP is

• A) $2,500.
• B) $2,400.
• C) $2,200.
• D) $2,300.

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Definitions:

Costs Per Unit

The total expense incurred to produce, store, and sell one unit of a product, including direct and indirect costs.

Contribution Margin

The surplus of sales revenue over the variable production costs, showing how much revenue aids in covering fixed expenses and producing profit.

Sales Price

The amount of money for which a product or service is sold in the marketplace.

Variable Cost

Expenses that change in proportion to the level of production or business activity, unlike fixed costs which remain constant.