Multiple Choice
GDP C S Ig $100 $100 $0 $80
200 160 40 80
300 220 80 80
400 280 120 80
500 340 160 80
600 400 200 80
700 460 240 80
Refer to the accompanying information for a closed economy.If both government spending and taxes are zero, the equilibrium level of GDP is
A) $200.
B) $300.
C) $400.
D) $500.
Correct Answer:
Verified
Correct Answer:
Verified
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