What is the equation for GDP?

GDP=C+I+G+(X-M)

Economics

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Based on the figure above, short-run equilibrium occurs at the price level of

A) 120 and real GDP of $5 trillion. B) 130 and real GDP of $10 trillion. C) 140 and real GDP of $15 trillion. D) 130 and real GDP of $15 trillion.

Economics

If tablets have an absolute price elasticity of 1, the demand for tablets is

A) unit elastic. B) inelastic. C) perfectly elastic. D) elastic.

Economics