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:

Sample Regression Line

A line that best fits the data points in a scatter plot, representing the relationship between an independent variable and a dependent variable based on sample data.

Coefficient

In algebraic expressions, a constant or fixed number that multiplies the variable, placed before it.

First-order Polynomial

A mathematical expression of the form ax + b, where a and b are constants and x is a variable.

Second-order Polynomial

A polynomial of degree two, which can represent a parabolic trajectory or trend in data analysis.