The Table Given Below Shows the Real GDP, Aggregate Expenditures

question 46

Multiple Choice

The table given below shows the real GDP, aggregate expenditures, saving, and imports of an economy. Table 10.4
Refer to Table 10.4.Suppose the economy is currently in equilibrium and the potential GDP of the economy is $6, 000.The current GDP gap equals _____.

• A)$400
• B)$1, 000
• C)$2, 000
• D)$3, 000
• E)$6, 000

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Definitions:

Ascribed Status

A social position assigned to an individual at birth or assumed involuntarily later in life, not a result of personal achievement.

Stratification

The arrangement or classification of something into different layers or categories, often used to describe social hierarchy and inequality.

Social Stratification

The classification of society into different hierarchies or levels based on factors like wealth, caste, status, and power.

BRIC

An acronym for Brazil, Russia, India, and China, representing four major emerging national economies.