-In Table 20-2, Assume That Exports Rise to $900

question 160

Multiple Choice

-In Table 20-2, assume that exports rise to $900.What is the new equilibrium GDP?

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Definitions:

Production

The process of creating goods and services, involving the transformation of inputs, like labor and raw materials, into outputs that satisfy consumer demand.

Gross Private Investment

The total amount of private sector spending on the acquisition of capital goods and additions to inventories.

Increased

A situation or condition where there is a rise or growth in quantity, size, number, or some other measure.

Decreased

A reduction or decline in value, amount, quality, or intensity.