Refer to the Above Diagram for a Private Closed Economy

question 83

Multiple Choice

Refer to the above diagram for a private closed economy.Unplanned investment in inventories will:

• A)occur at all levels of GDP in excess of $200.
• B)occur at all levels of GDP in excess of $600.
• C)occur at all levels of GDP below $600.
• D)not occur because the economy is necessarily in equilibrium.

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Definitions:

First Ace

The initial occurrence of an ace in a series of card draws or during a specific card-related activity.

Probability

A numerical expression between 0 and 1 that represents the probability of a particular event happening.

Cards

Pieces of heavy paper or thin cardboard, typically rectangular in shape, used for playing a variety of games.

At Least

Indicates the minimum quantity or the smallest amount possible or required.