Question: Why does equilibrium real GDP occur whereC+I g = GDP in a private closed economy? What happens to real GDP whenC+I g exceeds GDP? WhenC+I

Why does equilibrium real GDP occur whereC+I_g= GDP in a private closed economy? What happens to real GDP whenC+I_gexceeds GDP? WhenC+I_gis less than GDP? What two expenditure components of real GDP are purposely excluded in a private closed economy?

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