Which of the Following Equals Demand in a Closed Economy

question 13

Multiple Choice

Which of the following equals demand in a closed economy?

• A)C + I + G + X
• B)C + I + G + X - IM
• C)C + I + G + IM - X
• D)none of the above

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Definitions:

Court's Judgment

The final decision made by a judge or court in a legal case, determining the resolution of the dispute.

Debtor

A person or entity that owes money to another; the opposite of a creditor.

Marginal Cost Curve

A graphical representation showing how the cost to produce one additional unit changes as production increases.

Economic Profit

The total revenue minus explicit and implicit costs; it represents additional income over what could be earned in the next best alternative.