Refer to the Diagram Below for a Private Closed Economy

question 158

Multiple Choice

Refer to the diagram below for a private closed economy. Saving and planned investment are equal:

• A) only at the $300 level of GDP.
• B) only at the $250 level of GDP.
• C) at all levels of GDP.
• D) only at the $375 level of GDP.

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Definitions:

Natural Resources

Substances like minerals, forests, water, and fertile land that are found in nature and can be utilized for economic benefits.

Physically Consumed

This term refers to the actual use and depletion of resources or materials in a production process.

Natural Resource

Materials or substances occurring in nature which can be exploited for economic gain, such as minerals, forests, water, and fertile land.

Diamond Mine

A type of mining operation that extracts diamonds from the earth's mantle.