The Letters Y,C,I_g,X,and M Stand for GDP,consumption,gross Investment,exports,and Imports Respectively

question 7

Multiple Choice

The letters Y,C,I_g,X,and M stand for GDP,consumption,gross investment,exports,and imports respectively.Figures are in billions of dollars.
C = 26 + .75Y
I_g = 60
X = 24
M = 10
-Refer to the above information.If government desired to raise the equilibrium GDP to $650,it could:

• A) raise G by $45 and reduce T by $10.
• B) raise G by $40 and reduce T by $30.
• C) raise G by $30 or reduce T by $40.
• D) raise both G and T by $40.

---

Definitions:

Environmental Events

Incidents or occurrences in the natural or built environment that can affect human health and behavior.

Theories

Systematically organized principles or explanations proposed to understand phenomena or aspects of the real world.

Approximation

A value or quantity that is nearly but not exactly correct, often used in mathematical and scientific contexts.

Known Facts

Information or details that have been confirmed to be true through evidence or research.