Suppose the Economy Is Closed with National Saving of $2

question 150

Multiple Choice

Suppose the economy is closed with national saving of $2 trillion, consumption of $8 trillion, and government purchases of $1 trillion. What is GDP?

• A)$8 trillion
• B)$9 trillion
• C)$10 trillion
• D)$11 trillion

---

Definitions:

Equitably

In a manner that is fair and impartial.

Equally

With uniformity, without difference; being the same in quantity, size, degree, or value.

Individualistic

Pertaining to an outlook or philosophy that emphasizes the importance of the individual and their autonomous decision-making over collective goals.

Collectivistic

Describing cultures or societies that prioritize the group over the individual, often emphasizing community, cooperation, and interdependence.