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QUESTION
167. In a small insular economy, private consumption is C = 50, public expenditure is G = 30, exports are X = 30,
167. In a small insular economy, private consumption is C = 50, public expenditure is G = 30, exports are X = 30,
imports are M = 35, net foreign income is NFI = 0, the public deficit is DEF = 3 and the private sector savings are S = 23, then its Gross Domestic Product (GDP) is
(a) GDP = 100
. (b) GDP = 105.
(c) GDP = 110.
