Consider the Following Five Values: 1, 1, 6, 7, and 10

question 37

Multiple Choice

Consider the following five values: 1, 1, 6, 7, and 10. The arithmetic mean of these values is ____.

• A) 1
• B) 3.94
• C) 5
• D) 6

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Definitions:

Aggregate Demand

Total economic need for all goods and services within an economy, pegged at a designated price level during a chosen period.

Government Expenditures

The total amount of money spent by the government in a fiscal period, including spending on goods, services, and public projects.

Price Level

An overall average price for the full range of goods and services in the economy.

Net Exports

The value of a country's total exports minus its total imports, indicating the balance of trade between a country and its trading partners.