Refer to the Information Provided in Table 21

question 69

Multiple Choice

Refer to the information provided in Table 21.2 below to answer the questions that follow.
Table 21.2
The data in the table was used to estimate the following consumption function: C = 12 + 0.4Y.
-Refer to Table 21.2. The error for point C is equal to

• A) -1.
• B) 0.
• C) +1.
• D) +2.

---

Definitions:

NICs

Newly Industrialized Countries, nations that are transitioning from primarily agricultural to more industrial and manufacturing-based economies.

GDP

Gross Domestic Product, a measure of the total economic output of a country, calculated by the total value of all goods and services produced over a specific time period.

GDP

Gross Domestic Product, the total market value of all final goods and services produced within a country in a given period of time.

Health Care Costs

The expenses associated with medical treatment, including the costs of hospitalization, medications, preventive care, and medical devices.