The Letters Y, C, I_g, X, and M Stand for GDP

question 15

Multiple Choice

The letters Y, C, I_g, X, and M stand for GDP, consumption, gross investment, exports, and imports respectively.Figures are in billions of dollars.C = 26 + .75Y I_g = 60
X = 24
M = 10
The equilibrium level of GDP for the above open economy is:

• A)$390
• B)$375
• C)$320
• D)$400

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