The Table Given Below Reports the Value of Real GDP

question 98

Multiple Choice

The table given below reports the value of real GDP and its components consumption (C) , investment (I) , exports, and imports for two consecutive years. Table 10.3
Refer to Table 10.3.The change in investment spending from year 1 to year 2 is:

• A)$1, 800.
• B)$450.
• C)$945.
• D)$214.
• E)$2, 100.

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded for it.

Downward-Sloping

A term used to describe a line or curve on a graph that moves from the upper left to the lower right, often associated with the demand curve in economics.

Complements

Goods and services that are used together, where the consumption or use of one increases the demand for the other.

Normal Goods

Goods for which demand increases as consumer income rises, holding prices constant.