(Table 3: Macroeconomic Data for Econia, 2018) What Was Econia's $\text { Table 3: Macroeconomic Data for Econia, } 2018 \text { (billions of dollars) }$

question 65

Multiple Choice

(Table 3: Macroeconomic Data for Econia, 2018) What was Econia's national income in 2018?
$\text { Table 3: Macroeconomic Data for Econia, } 2018 \text { (billions of dollars) }$
$\begin{array}{|c|l|c|c|l|l|l|}\hline \begin{array}{l}\text { Government } \\\text { Purchases }\end{array} & \begin{array}{l}\text { Consumer } \\\text { Expenditures }\end{array} & \begin{array}{l}\text { Depreciation of } \\\text { Capital }\end{array} & \text { Investment } & \begin{array}{l}\text { Indirect } \\\text { Business } \\\text { Taxes }\end{array} & \begin{array}{l}\text { Net } \\\text { Exports }\end{array} & \begin{array}{l}\text { Personal } \\\text { Taxes }\end{array} \\\hline \$ 600 & \$ 1,000 & \$ 50 & \$ 400 & \$ 60 & -\$ 50 & \$ 120 \\\hline\end{array}$

• A) $1,950 billion
• B) $2,110 billion
• C) $1,890 billion
• D) $1,840 billion

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Definitions:

Standard Deviation

An important measure in statistics that expresses the variability or spread of a dataset relative to its mean, indicating how spread out the data points are.

Random Variable

A variable representing numerical results from a stochastic process.

Random Experiment

An experiment or process in which all possible outcomes occur randomly with certain probabilities associated with each outcome.

Unbiased Coin

A coin for which the probability of landing on heads or tails is equal, implying fair outcomes.