The Following Are National Income Account Data for a Hypothetical

question 28

Multiple Choice

The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investment ($320) , imports ($35) , exports ($22) , personal consumption expenditures ($2,460) , and government purchases ($470) .What is GDP in this economy?

• A)$3,250 billion
• B)$3,263 billion
• C)$3,237 billion
• D)$3,290 billion

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Definitions:

Political Strategy

Political strategy refers to the planned course of action or tactics employed by individuals, groups, or organizations to influence political decisions or achieve specific political outcomes.

Power Distribution

Power distribution involves the allocation and control of authority, resources, and influence among individuals, groups, or institutions within a society or organization, affecting decision-making and governance.

Policy Advocates

Individuals or groups that actively work to propose or support changes in public policy.

Legislative Setting

The environment or context within which laws are proposed, debated, and passed by a legislative body.