The Norwegian economy can be characterized by Equation 24.3.EQUATION 24.3:C = 100 + 0.8Yd G = 500T = 200I = 200Refer to Equation 24.3. The equilibrium level of output for the Norwegian economy is

A. 2,850.
B. 3,200.
C. 4,000.
D. 4,800.


Answer: B

Economics

You might also like to view...

A country exports the goods

A) for which its domestic prices are very high compared to the world prices. B) that the economy can produce the most of. C) that the economy can produce at relatively lowest opportunity cost. D) that it cannot sell domestically. E) in which it has a comparative disadvantage.

Economics

A highly charitable person, such as Mother Theresa, will be influenced by

a. changes in benefits, but not costs. b. changes in costs, but not benefits. c. both changes in benefits and costs. d. neither changes in benefits nor costs.

Economics

Rising healthcare costs are attributable to

A) people living longer and desiring more care. B) reliance on expensive technology to support and prolong life. C) third-party financing of healthcare costs. D) all of the above.

Economics

Of the following, which group is hurt by a tariff?

A) domestic consumers of the good B) domestic government C) foreign government D) foreign consumers of the good E) domestic producers of the good

Economics