Refer to the information. The equilibrium GDP will be:
Answer the question on the basis of the following information for a private closed economy, where I g is gross investment, S is saving, and Y is gross domestic product (GDP).
A. $160.
B. $400.
C. $360.
D. $480.
B. $400.
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Using the table above, if the current market value of the dollar is 70 francs
A) investor A expects dollar appreciation, but B and C expect depreciation. B) investor A expects dollar depreciation, but B and C expect appreciation. C) all three investors expect the dollar to appreciate. D) all three investors expect the dollar to depreciate.
Assume that Bulgaria has a comparative advantage in producing sandals and Finland imports sandals from Bulgaria. We can conclude that
A) Labor costs are higher for sandal producers in Finland than in Bulgaria. B) Bulgaria also has an absolute advantage in producing sandals relative to Finland. C) Bulgaria has a lower opportunity cost of producing sandals relative to Finland. D) Finland has an absolute disadvantage in producing sandals relative to Bulgaria.