The Table Given Below Reports the Value of Real GDP

question 16

Multiple Choice

The table given below reports the value of real GDP and its components consumption (C) , investment (I) , exports, and imports for two consecutive years in an economy.?

-Refer to Table 10.3. To increase the equilibrium real GDP to $12,000 in year 3 in this economy, all else equal to that in year 2, investment would have to increase by:

• A) $258 approximately.
• B) $550 approximately.
• C) $2,262 approximately.
• D) $1,100 approximately.
• E) $1,155 approximately.

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Definitions:

Widely Held Beliefs

Opinions or convictions that are commonly accepted by a large number of people within a society.

Racial Prejudice

Negative attitudes or beliefs held toward individuals or groups based on their race or ethnicity.

Egocentrism

The inability to differentiate between self and other, often resulting in an individual perceiving, interpreting, and judging the world solely from their own perspective.

Defensive Attribution

A cognitive bias where an individual attributes causes for events in ways that defend against feelings of vulnerability or mortality.