Table 1 -Given the Values in the Table Above, Equilibrium Output Y

question 21

Multiple Choice

Table 1

-Given the values in the table above, equilibrium output Y = ________ when the real interest rate r = 4.

• A) 26.6
• B) 0.65
• C) 17
• D) 5.65
• E) none of the above

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Definitions:

Promissory Estoppel

A legal principle that prevents a promisor from withdrawing a promise that a promisee has relied upon.

Reciprocal Treatment

A principle where two parties provide the same advantages or conditions to each other.

Civil Code

A body of written law that sets out the private rights of the citizens of a state.

Adequacy of Consideration

The fairness of the value exchanged in a contract, ensuring that what is received is reasonable compared to what is given.