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Question: Assume an economy where GDP is 3 million capital income is 2 million, labor the income is 0.8 mil...

Show transcribed image text Assume an economy where GDP is 3 million capital income is 2 million, labor the income is 0.8 million and energy expenditure is 0.2 million. If there is a one percent reduction in energy, then GDP a) Would fall by 0.15 percent b) Would fall by 1.5 percent c) Would fall by 0.6 percent d) Would fall by .06 % e) Would fall by 0.4 % f) None of the above

Assume an economy where GDP is 3 million capital income is 2 million, labor the income is 0.8 million and energy expenditure is 0.2 million. If there is a one percent reduction in energy, then GDP a) Would fall by 0.15 percent b) Would fall by 1.5 percent c) Would fall by 0.6 percent d) Would fall by .06 % e) Would fall by 0.4 % f) None of the above