Q1

GDP Consumption $ 440 $ 450 490 490 546 530 596 57B 64B 610 Refer to the accompanying consumption schedule in an economy. All gures are in billions of dollars. Given the level of investment at $34 billion. zero net exports, and a lump-sum tax of $30 billion, the addition of government expenditures of $20 billion at each level of GDP will result in an equilibrium GDP of Multiple Choice 0 $490 billion. $540 billion. $590 billion. 000 $640 billion. One problem in maintaining a cartel is that there's an economic incentive for firms to cheat by producing less than the agreed-upon quota there's an economic incentive for firms to leave the cartel O there's an economic incentive for firms to cheat by producing more than the agreed-upon quota