Use the Information Below to Answer the Following Questions

question 153

Multiple Choice

Use the information below to answer the following questions.
Fact 27.5.1
The economy of Beverly Hills has a consumption function of C = 10 + 0.8Y, investment equal to 6, government expenditure equal to 10, exports equal to 10, and an import function of M = 0.1Y.
-Refer to Fact 27.5.1. What is equilibrium real GDP in this economy?

• A)36
• B)120
• C)130
• D)360
• E)none of the above

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Definitions:

Department of Commerce

A department of the government responsible for promoting economic growth, supporting job creation, and improving the living standards of citizens through various policies and initiatives.