Using the Following Information on a Hypothetical Economy in Equilibrium,calculate

question 98

Multiple Choice

Using the following information on a hypothetical economy in equilibrium,calculate total output for 2008.
$$\begin{array} { | l | l | } \hline \text { Consumption Spenting } & \$ 3.5 \text { trillion } \\\hline \text { Net Taxes } & \$ 2.7 \text { trillion } \\\hline \text { Household Seving } & \$ 2.5 \text { trilion } \\\hline \text { Investment Spenting } & \$ 2.2 \text { trilion } \\\hline \text { Government Purchases } & \$ 3.0 \text { trillion } \\\hline\end{array}$$
If exports are exactly equal to imports,total output for 2008 is

• A) $5.2 trillion
• B) $5.7 trillion
• C) $8.4 trillion
• D) $8.7 trillion
• E) $13.9 trillion

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Definitions:

Decimal

Numbers that are expressed as a fraction of a part using 10 as its base number; it also refers to the period used to separate a whole number from a fraction, as in 10.2, otherwise read as “ten and two-tenths.”

Fraction

A numerical quantity that is not a whole number, representing a part of a whole.

Base Number

A mathematical value serving as a foundational digit in a numbering system, determining its counting process, such as 2 in binary or 10 in decimal.

Dosages

The prescribed amount and frequency of medication intake or drug administration.