Assume a Closed Economy with No Government Sector

question 9

Multiple Choice

Assume a closed economy with no government sector. If the level of consumption in the economy is £200, savings is £150 and investment is £100, then planned aggregate expenditure in the economy will be equal to _____.

• A) £450
• B) £100
• C) £300
• D) £350

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Definitions:

Life Without Parole

A criminal sentence in which the convicted individual is to spend the remainder of their life in prison without the possibility of parole.

Cruel and Unusual Punishment

A form of penalty that is deemed intolerable because of the agony, distress, or degradation it causes to the individual who endures it.

Gender Recognition Act

Legislation in some jurisdictions that allows individuals to legally change their gender designation on official documents.

Transsexual

A person whose gender identity is different from the sex they were assigned at birth, and who may undergo medical treatments to align their physical body with their gender identity.