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

question 11

Multiple Choice

Using the following information on a hypothetical economy in equilibrium,calculate total output for 2008.
$\begin{array}{l|r}\text { Consumption Spending } & \$ 3.5 \text { trillion } \\\hline \text { Net Taxes } & \$ 2.7 \text { trillion } \\\hline \text { Household Saving } & \$ 2.5 \text { trillion } \\\hline \text { Investment Spending } & \$ 2.2 \text { trillion } \\\hline \text { Government Purchases } & \$ 3.0 \text { trillion } \\\hline \text { Net Exports } & -\$ 0.3 \text { trillion }\end{array}$

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

Appreciate the role of raw materials in the manufacturing process and international trade.

Compare the impact of different communication and transportation technologies on international business.

Identify the benefits and functions of digitization in government and public services.

Understand the role and implications of standardized shipping containers in global shipping.

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Definitions:

Volcanic Dome

A round-shaped mound formed over a volcanic vent by the slow eruption of viscous lava.

Mount St. Helens

An active stratovolcano located in the state of Washington, USA, known for its catastrophic eruption in 1980.

Extremely Hot

A condition or temperature significantly higher than average or expected, often associated with environments close to volcanic activity or during heatwaves.

Slightly Hot

A mild increase in temperature, moderately above what is considered normal or comfortable.