Suppose the Economy Is Closed with National Saving of $2

question 150

Multiple Choice

Suppose the economy is closed with national saving of $2 trillion, consumption of $8 trillion, and government purchases of $1 trillion. What is GDP?

• A)$8 trillion
• B)$9 trillion
• C)$10 trillion
• D)$11 trillion

Understand the importance of knowing the audience in preparing and delivering presentations.

Recognize effective strategies for reducing speech anxiety and improving presentation delivery.

Identify the steps in organizing thoughts and structuring both speeches and written content effectively.

Understand the significance of using appropriate language, tone, and visuals in presentations.

---

Definitions:

Consumption Expenditures

The total amount of money spent by households and individuals on goods and services for personal use.

Circular Flow Diagram

A visual model of the economy that shows how dollars flow through markets among households and firms.

Households

Economic units that consist of all individuals who live together in one dwelling, making joint decisions about consumption and labor.

Circular Flow Model

An economic model illustrating the continuous movement of money, goods and services, and factors of production between producers and consumers in an economy.