The Following Information Is for a Private Closed Economy,where I_g

question 32

Multiple Choice

The following information is for a private closed economy,where I_g is gross investment,S is saving,and Y is gross domestic product (GDP) .
I_g = 80
S = -80 + .4Y
-Refer to the above information.The equilibrium GDP will be:

• A) $160
• B) $400
• C) $360
• D) $480

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Definitions:

Willingness to Buy

The extent to which a consumer is ready to purchase a product or service, based on factors like price, quality, and personal preference.

Consumers

Individuals or groups that purchase or have the potential to purchase goods and services for personal use.

Primary Data

Information that is collected firsthand for a specific research purpose or project, such as through surveys, interviews, or experiments.

Watching People

The act of observing individuals' behaviors and interactions, often used in market research or social studies to gather insights.