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25 May, 10:43

Actual investment is $28 billion and saving is $15 billion at the $166 billion level of output in a private closed economy. At this level: A. Consumption will be $151 billionB. Planned investment will be $13 billionC. Unplanned investment will be $15 billionD. Planned investment minus saving will be $38 billion

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  1. 25 May, 11:07
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    A. Consumption will be $151 billion

    Explanation:

    Gross domestic product is defined as the total monetary output that a country produces in a particular period. It shows the level of economic growth and development of a country.

    At equillibrum in a private closed economy the following relationship holds true.

    Aggregate expenditure (consumption) = Output - Savings = Investment

    Consumption = 166 billion - 15 billion

    Consumption = $151 billion
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