The Following Table Is for a Particular Country in Which

question 124

Multiple Choice

The following table is for a particular country in which C is consumption expenditures, I_g is gross investment expenditures, G is government expenditures, X is exports, and M is imports.All figures are in billions of dollars.Each question is independent of the other questions. Refer to the above table.If the aggregate supply schedule intersects the aggregate demand at price level 119 in this country, its equilibrium level of real GDP will be:

• A)$37 billion.
• B)$35 billion.
• C)$26 billion.
• D)$43 billion.

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Definitions:

Income

Earnings received by an individual or entity, typically through wages, investments, or business activities, over a certain period.

Utility Function

A form of mathematical model that orders a person's preferences across a range of products and services.

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Instructional sessions aimed at teaching individuals how to skate on ice, often covering basic skills to advanced techniques.

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Formal instruction in playing the piano, typically involving one-on-one sessions between a student and a teacher.