Answer the question based on the following data, using year 1 as the base year. All dollars are in billions.
Refer to the above data. Real GDP increased from year 3 to year 4 by approximately:
A.
$68 billion
B.
$75 billion
C.
$98 billion
D.
$215 billion
A.
$68 billion
Economics
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Efficiency can correctly be defined as
A) producing outside the production possibilities boundary. B) minimizing opportunity cost. C) producing the maximum output with given technology and resources. D) providing for the immediate needs of the greatest proportion of the population.
Economics