Multiple Choice
The country of Cedarland does not trade with any other country. Its GDP is $17 billion. Its government purchases $5 billion worth of goods and services each year and collects $6 billion in taxes. Private saving in Cedarland is $5 billion. For Cedarland, investment is
A) $6 billion and consumption is $7 billion.
B) $6 billion and consumption is $6 billion.
C) $7 billion and consumption is $7 billion.
D) $7 billion and consumption is $6 billion.
Correct Answer:
Verified
Correct Answer:
Verified
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