In a Small Economy,consumption Spending in 2012 Is $6,000,government Spending

question 107

Multiple Choice

In a small economy,consumption spending in 2012 is $6,000,government spending is $1,200,gross investment is $1,500,exports are $2,000,and imports are $1,000.What is gross domestic product in 2012?

• A) $9,700
• B) $9,800
• C) $10,800
• D) $11,700

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Definitions:

Joint Probability Distribution

Joint Probability Distribution is a statistical measure that gives the probability of two or more events occurring at the same time and can be represented via tables, formulas, or graphs.

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A statistical measure that gives the likelihood of two events occurring together and at the same point in time.

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