The following schedule contains data for a private closed economy. All figures are in billions.
Assume that gross investment is $10 billion.
-Refer to the above data. If a lump-sum tax of $20 is imposed, the consumption schedule will become: 
Definitions:
Test Statistic
A value calculated from sample data during a hypothesis test, used to make a decision about the null hypothesis.
P-Value
A statistical measure that helps to determine the strength of the results to support or reject the null hypothesis.
Null Hypothesis
A hypothesis that assumes there is no statistical significance in a set of given observations and that any observed difference is due to sampling or experimental error.
P-Value
The probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is true.
Q6: If personal taxes were decreased and input
Q9: People who work part time, but desire
Q35: Real GDP was $9,950 billion in Year
Q37: The equilibrium level of GDP for the
Q48: Refer to the above data. The marginal
Q55: Refer to the above diagram. Initially assume
Q95: The impact of an expansionary fiscal policy
Q123: During 1986-1991, Nicaragua has experienced an economic
Q125: An increase in the public debt will:<br>A)
Q134: The economy in the above diagram is