Use the following to answer questions .
Exhibit: Aggregate Expenditures and Real GDP 1
-(Exhibit: Aggregate Expenditures and Real GDP 1) Let Y = real GDP, AE = Aggregate Expenditures, C = Consumption, IP = Planned Investment. Suppose AE = C + IP, and IP is autonomous. What is the value of AE when Y = $12,000 billion?
A) $6,000 billion
B) $9,000 billion
C) $12,000 billion
D) $15,000 billion
Correct Answer:
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