Assume you are given the following information about an economy. C = 1191 NX = -4 G = 450 I = 323
What is the equilibrium value of real GDP?
A)1960
B)1964
C)1968
D)1637
E)1510

Question

Quizplus · Accepted Answer

The equilibrium value of real GDP is found by adding consumption (C), investment (I), government spending (G), and net exports (NX). In this case, C = 1191, I = 323, G = 450, and NX = -4. Therefore, real GDP = 1191 + 323 + 450 - 4 = 1960.

Assume You Are Given the Following Information About an Economy