The goods market of an open economy is in equilibrium when domestic output or production is:
a. equal to the demand for domestic goods.
b. equal to the foreign demand.
c. equal to the domestic demand.
d. equal to net exports.
the equilibrium level of output ▼ must be could be can not be the same as the level of output at which trade is balanced.

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?