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:

Meta-Analysis

A statistical method for combining the results of multiple studies on a topic to integrate findings and draw conclusions.

Chi-square Distribution

A probability distribution that describes the distribution of the sum of the squares of k independent standard normal random variables.

Positive Values

Numbers greater than zero.

Degree of Freedom

The number of independent ways by which a dynamic system can move without violating any constraint applied on it, often used in statistics to determine the number of values in the final calculation of a statistic that are free to vary.