Scenario 6.1 Consider the Following Data for a Closed Economy

question 156

Multiple Choice

Scenario 6.1
Consider the following data for a closed economy:
Y = $1 200 billion
C = $800 billion
I = $200 billion
G = $200 billion
TR = $200 billion
T = $300 billion
-Refer to Scenario 6.1.Based on the information above, what is the level of private saving in the economy?

• A)90 billion
• B)$100 billion
• C)$300 billion
• D)$400 billion
• E)$800 billion

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Definitions:

Decision

The process of choosing among different options or actions based on certain criteria or considerations to achieve a desired outcome.

Producing Component

A part or element in a manufacturing process that is being made into a final product.

Purchasing Externally

The process of acquiring goods, services, or works from an outside external source, often through a tendering or competitive bidding process.