The Table Shows a Private Open Economy

question 110

Multiple Choice

The table shows a private open economy. All figures are in billions of dollars. Refer to the above table. The equilibrium real GDP is:

• A) $550
• B) $600
• C) $650
• D) $700

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Definitions:

Constitute

To compose or form something, often used in a legal or formal context to indicate the components that make up a whole.

Probabilities

Measures the likelihood of an event occurring, ranging from 0 to 1.

Mutually Exclusive

Describes events that cannot occur at the same time.

Possible Outcomes

All the potential results that may occur from a specific action, experiment, or situation.