If Planned Aggregate Expenditures Are $150 Billion, Consumption Is $50

question 150

Multiple Choice

If planned aggregate expenditures are $150 billion, consumption is $50 billion, investment is $30 billion, government spending is $40 billion, there is a

• A) trade surplus of $270 billion.
• B) trade surplus of $30 billion.
• C) trade deficit of $120 billion.
• D) trade balance.

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Definitions:

Non-negative

A term used to describe numbers that are either positive or zero, indicating values that are not less than zero.

Test Statistic

A value calculated from sample data, used in hypothesis testing to determine whether to reject the null hypothesis for the entire population.

Right Tail

The portion of a distribution to the right of a specified value, often related to the significance level in hypothesis testing.

Observed Frequencies

The actual number of occurrences or instances recorded in each category or interval of a study.