Give an Example of a Multinational State as Mentioned in the Book

question 14

Multiple Choice

Give an example of a multinational state as mentioned in the book.

• A) The UK.
• B) Papua New Guinea.
• C) Canada.

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Definitions:

Aggregate Supply

The total supply of goods and services that firms in a national economy plan on selling during a specific time period.

Equilibrium GDP

The level of Gross Domestic Product at which total production equals total spending, indicating a state of economic balance without tendency to change.

Full-employment Level

signifies an economic condition where all who are able and willing to work at current wage rates have employment opportunities.

National Debt

The entirety of funds that a country's governmental body has taken on as debt through several mechanisms.