The Table Shows the Consumption Schedule for a Hypothetical Economy

question 188

Multiple Choice

The table shows the consumption schedule for a hypothetical economy.All figures are in billions of dollars. Refer to the above table.If taxes were zero, government purchases of goods and services $10, planned investment $6, and net exports zero, equilibrium real GDP would be:

• A)$620
• B)$630
• C)$640
• D)$650

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Definitions:

Concepts

Abstract ideas or general notions that exist in the mind as representations of categories or classes of objects, events, or activities.

Pigeons

Birds that are often used in research to study behavior and learning due to their ability to perform tasks and remember patterns.

Intrinsic Motivation

The drive to engage in an activity for its own sake, rather than for some external reward or outcome.

Creativity

The use of imagination or original ideas to create something; inventiveness.