The Following Schedule Contains Data for a Private Closed Economy $\begin{array}{l}\underline{\text { GDP }}& \underline{C} \\\$140&\$150\\180 & 180 \\220 & 210 \\260 & 240\\300 &270 \\\end{array}$

question 40

Multiple Choice

The following schedule contains data for a private closed economy.All figures are in billions.Use these data in answering the question. $\begin{array}{l}\underline{\text { GDP }}& \underline{C} \\\$140&\$150\\180 & 180 \\220 & 210 \\260 & 240\\300 &270 \\\end{array}$ Refer to the data.If gross investment is $10 at all levels of GDP,the equilibrium GDP will be:

• A) $300.
• B) $260.
• C) $220.
• D) $180.

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Definitions:

Legal Taxable Entity

An organization or individual recognized by law as a unit that is required to pay taxes on income, assets, or transactions.

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders, and it has its own rights, privileges, and liabilities independent of the owners.

Modular Homebuilder

A company that specializes in constructing homes that are primarily built off-site, in sections, and then assembled on-site.

Manufacturing Business

A company engaged in the processing of raw materials into finished products through the use of labor, machinery, and equipment.