Refer to the table. The economy shown is a:

Real GDP	Consumption (after taxes)	Gross Investment	Net Exports	Government Purchases
$0	-$20	$10	$+5	$15
10	0	10	+5	15
40	20	10	+5	15
70	40	10	+5	15
100	60	10	+5	15
130	80	10	+5	15
160	100	10	+5	15

a. Private economy.

b. private open economy.

c. mixed closed economy.

d. mixed open economy.

Solutions

Expert Solution

The answer D would be correct

Because the economy has consumption after TAX and government purchases which makes it a mixed one. Apart from this, the Net Export component makes its open economy.

Rahul Sunny answered 1 year ago

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