Refer to the Information Provided in Table 9

question 280

Multiple Choice

Refer to the information provided in Table 9.6 below to answer the questions that follow.
Table 9.6
All Figures in Billions of Dollars
-Refer to Table 9.6. The economy is at the equilibrium level of output. If government spending increases to a level of $400 billion, the new equilibrium level of output is

• A) $2,100 billion.
• B) $5,400 billion.
• C) $6,040 billion.
• D) $6,600 billion.

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Definitions:

Equity

The amount of a home that an owner actually owns.

Loan Balance

The amount of money that remains to be paid on a loan, excluding interest or fees that may accumulate.

Sales Tax

A percentage paid to the government of sales on products or services.

Square Foot

A unit of area measurement equal to a square measuring one foot on each side.