Multiple Choice
Use the information below to answer the following questions.
Fact 11.5.1
An economy has a consumption function of C = 10 + 0.8Y, investment equal to 6, government expenditure equal to 10, exports equal to 10, and an import function of M = 0.1Y.
-Refer to Fact 11.5.1.What is equilibrium real GDP in this economy?
A) 21
B) 36
C) 120
D) 130
E) 360
Correct Answer:
Verified
Correct Answer:
Verified
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