Table 15-1 -Refer to Table 15-1. When 4 Units of Output Are

question 352

Multiple Choice

Table 15-1
-Refer to Table 15-1. When 4 units of output are produced and sold, what is average revenue?

• A)$17
• B)$21
• C)$23
• D)$26

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Definitions:

Exports

Goods or services sent from one country to be sold in another country.

Consumption

The total value of all goods and services consumed by households, including durable goods, non-durable goods, and services.

Investment

The act of distributing funds or resources with the aim of earning an income or profit.

GDP Deflator

A financial indicator that adjusts the value of output calculated at present prices to constant-dollar GDP, to correct for inflation effects.