The Following Are National Income Account Data for a Hypothetical

question 28

Multiple Choice

The following are national income account data for a hypothetical economy in billions of dollars: gross private domestic investment ($320) , imports ($35) , exports ($22) , personal consumption expenditures ($2,460) , and government purchases ($470) .What is GDP in this economy?

• A)$3,250 billion
• B)$3,263 billion
• C)$3,237 billion
• D)$3,290 billion

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Definitions:

Memory Confusion

A phenomenon where individuals mix up details or recollections, leading to inaccuracies or errors in memory.

Unified Process

A software development process that is iterative, incremental, and focuses on reducing risks and achieving high-quality software efficiently.

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Refers to the phase of memory responsible for storing information for extended periods, potentially for a lifetime.