-Refer to the Above Diagram for a Private Closed Economy

question 26

Multiple Choice

-Refer to the above diagram for a private closed economy.At the $300 level of GDP:

• A) planned investment will exceed saving,but actual investment will be equal to saving.
• B) aggregate expenditures will exceed GDP,causing GDP to rise.
• C) actual investment will exceed planned investment.
• D) households will consume in excess of their incomes.

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Definitions:

Nonrandom Samples

Nonrandom samples are samples that are not selected using random methods, which may result in a biased representation of the overall population.

Alternative Hypothesis

It proposes that there is a statistically significant relationship between variables, opposing the null hypothesis.

Mean Difference

The average difference between each pair of observations in two sets of values, often used in comparative studies.

Null Hypothesis

In statistics, it's the hypothesis that there is no effect or no difference, and it is tested against an alternative hypothesis.