Which of the Following Is the Formula for an Open

question 214

Multiple Choice

Which of the following is the formula for an open economy's GDP?

• A)Y = C + I + G
• B)Y = C + I + G + T
• C)Y = C + I + G + S
• D)Y = C + I + G + NX

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Definitions:

Variance

A statistical measure of the dispersion representing how much the values in a data set differ from the mean of the data set.

Highly Significant

A statistical term used to describe an outcome when the observed p-value is much lower than the specified level of significance (α), strongly indicating a true effect.

Statistical Significance

A measure of the likelihood that a difference or relationship observed in a study could have occurred by random chance, often denoted by a p-value.

Effect Size

A quantitative measure of the magnitude of the experimental effect from a study, indicating the size of the difference between groups.