$$\begin{array} { l } C = 26 + 0.75 Y \\I _ { g } = 60 \\X = 24 \\M = 10\end{array}$$

question 112

Multiple Choice

$$\begin{array} { l } C = 26 + 0.75 Y \\I _ { g } = 60 \\X = 24 \\M = 10\end{array}$$ (Advanced analysis) The equations give information for a private open economy. The letters Y, C, Ig, X, and M stand for GDP, consumption, gross investment, exports, and imports, respectively. Figures are in
Billions of dollars. The equilibrium GDP for the open economy is

• A) $390.
• B) $375.
• C) $320.
• D) $400.

Recognize the basics of printing and document styling in computing.

Comprehend the significance of network standards and protocols for successful communication.

Utilize internet resources effectively for research and information gathering.

Understand the basics of software application use for various tasks, including photo editing and website creation.

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Definitions:

Competitive Industry

A competitive industry is one where numerous producers compete with each other to satisfy the needs and wants of consumers, characterized by free entry and exit and a high level of innovation.

Market Demand

The total quantity of a good or service that consumers are willing and able to purchase at various prices during a specific time period.

Market Equilibrium

A condition in a market where supply equals demand, resulting in stable prices that neither increase nor decrease.

Competitive Industry

An economic environment where multiple businesses compete against one another, fostering innovation and efficiency to attract customers.