Refer to the Above Diagram for a Private Closed Economy

question 181

Multiple Choice

Refer to the above diagram for a private closed economy.The equilibrium level of GDP in this economy:

• A)is $60 billion.
• B)is $180 billion.
• C)is between $60 and $180 billion.
• D)cannot be determined from the information given.

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To estimate or judge something to be larger, greater, or of higher importance than it actually is.

Overestimate

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