Determine Which of the Numbers Below Is a Possible Order

question 213

Multiple Choice

Determine which of the numbers below is a possible order of magnitude estimate of the quantity described.
-The total number of steps an adult would take in walking from New York to San Francisco.

• A)One billion
• B)One hundred million
• C)One million
• D)Ten million

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Definitions:

Crowding-In Effect

An economic concept where increased government spending leads to higher private sector investment, contrary to the crowding-out effect.

Aggregate Demand

Aggregate economic demand for products and services, assessed at a certain overall price point during a predefined time span.

National Debt

The total amount of money that a country's government has borrowed and not yet repaid, often through the issuance of securities.

Inflationary Gap

The difference between the actual output of an economy and the output it could achieve with full employment, leading to inflation when demand outstrips supply.