Scenario 26-2

question 85

Multiple Choice

Scenario 26-2.Assume the following information for an imaginary,closed economy.
GDP = $5 trillion;consumption = $3.1 trillion;
government purchases = $0.7 trillion;and taxes = $0.9 trillion.
-Refer to Scenario 26-2.For this economy,private saving is equal to

• A)$0.3 trillion.
• B)$1.2 trillion.
• C)$1.0 trillion.
• D)$1.7 trillion.

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Definitions:

Ph.D.

Stands for Doctor of Philosophy, a doctoral degree awarded by universities, representing the highest level of academic achievement in a particular field of study.

Harvard

An elite private university located in Cambridge, Massachusetts, known for its prestigious academic programs and historical significance.

Black Person

Refers to an individual of African descent or having a dark skin complexion.

Functionalists

Scholars who view society as a complex system whose parts work together to promote solidarity and stability.