Refer to the Above Diagram Which Is for a Private

question 42

Multiple Choice

Refer to the above diagram which is for a private closed economy.All figures are in billions of dollars.If gross investment is $15, the equilibrium level of GDP:

• A)is $30.
• B)is $380.
• C)is $300.
• D)is $340.

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Definitions:

Lack Of Response

A situation where there is no reaction or feedback to a stimulus or action.

Critical Evaluation

The systematic process of assessing the merits, faults, value, or significance of something, based on criteria and reasoned arguments.

Majority Rule

A decision-making principle where the option that receives more than half of the votes is selected or agreed upon.

Formal Voting

A structured method of making decisions where members of a group cast votes according to established procedures, often used to achieve consensus or majority.