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Part I. Answer in the space below. 1. (12 marks) This is a question about the...
Part I. Answer in the space below. 1. (12 marks) This is a question about the...
Part I. Answer in the space below. 1. (12 marks) This is a question about the Keynesian cross diagram. Suppose that planned aggregate expenditure (PAE) is given by the equation: PAE-2000+ 0.5 (Y). You also know that actual output is 4,000 and potential output is 3,600. a. Label the axes of figure below. b. Add the PAE and Y-PAE lines. Label the lines and the vertical intercept. c. Show actual output and potential output on the horizontal axis. Represent potential...
Part B. 2. (10%) In the space provided below, discuss the following macroeconomics diagram. Your discussion...
Part B. 2. (10%) In the space provided below, discuss the following macroeconomics diagram. Your discussion should consist of complete sentences organized into complete paragraphs. Give at least one of the names for the model shown, explain the situation to which the model best applies, provide a possible scenario for what is happening in the diagram, and describe the change in equilibrium. Y = PAE Expenditure line PAE = 960 + 0.8Y Expenditure line PAE = 950 + 0.8Y Planned...
i just need the graph An economy is described as follows: C = 3,000 + 0.5...
i just need the graph An economy is described as follows: C = 3,000 + 0.5 (Y – T) I p = 1,500 G = 2,500 NX = 200 T = 2,000 Y* = 12,000 a. For the economy described above, find autonomous expenditure, the multiplier, short-run equilibrium output, and the output gap. Instructions: Enter your responses as whole numbers. Autonomous expenditure: Multiplier: Short-run equilibrium output: Output gap: b. Illustrate this economy’s short-run equilibrium on a Keynesian cross diagram. Instructions: On...
An economy is described as follows: C = 400 + 0.6(Y – T) I p =...
An economy is described as follows: C = 400 + 0.6(Y – T) I p = 200 G = 200 NX = 60 T = 100 Y* = 2,100 a. For the economy described above, find autonomous expenditure, the multiplier, short-run equilibrium output, and the output gap. Instructions: Enter your responses as absolute values. Autonomous expenditure: Multiplier: Short-run equilibrium output: There is (Click to select) a recessionary an expansionary no output gap in the amount of . b. Illustrate this economy’s short-run equilibrium on a...
Consider the economy described by the following equations: C = 1,600 + 0.9 (Y – T) I p = 800 G = 1,600 NX = 200 T = 1,600 Y* = 29,000 a. Complete the table shown below to find short-r...
Consider the economy described by the following equations: C = 1,600 + 0.9 (Y – T) I p = 800 G = 1,600 NX = 200 T = 1,600 Y* = 29,000 a. Complete the table shown below to find short-run equilibrium output. Consider possible values for short-run equilibrium output as they are given in the table below. Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. OutputY...
U ponunt 0 Consume 3. An economy is described by the following equations: (LO2) C =...
U ponunt 0 Consume 3. An economy is described by the following equations: (LO2) C = 1,800 + 0.6(Y - T) P = 900 G = 1,500 NX = 100 T = 1,500 Y* = 9,000 crical equation linking planned aggregate expenditure to output. onomous expenditure and induced expenditure in this economy. a. Find a numerical equation linking plan b. Find autonomous expenditure a or the economy described in Problem 3: (L03) a. Construct a table like Table 11.1 to...
Given the following information about a nation’s economy, answer the questions below. C = 250 +...
Given the following information about a nation’s economy, answer the questions below. C = 250 + .8 Yd T = 100 I = 275 G = 175 X = 65 M = 70 Use algebra to solve for equilibrium. (You must show ALL of your work.) Recall that in equilibrium, TE = TP =Y. Calculate the multiplier. Refer to part (a) and simplify the TE equation into standard slope-intercept form: TE = A + MPC*Y If you can not easily...
Question 2 (5 pts) An Economy is described by the following equations C-2600+0.8(Y-T)- 10000r I-2000-10000r G-1800...
Question 2 (5 pts) An Economy is described by the following equations C-2600+0.8(Y-T)- 10000r I-2000-10000r G-1800 Net exports are zero, net taxes T are fixed at 3000, and the real interest rate r, expressed as a decimal is 0.10 (that is, 10 percent). Find a numerical equation relating planned aggregate expenditure to output. Using a table or other method, solve for short-run equilibrium output. Show your result graphically using the Keynesian cross diagram
Question 1 Answer parts (a) - (d) below on the basis of the following table. Income...
Question 1 Answer parts (a) - (d) below on the basis of the following table. Income (Y) Change in Income (ΔY) Aggregate Expenditures (AE) Change in Aggregate Expenditures (ΔAE) 0 500 500 950 1000 1400 1500 1850 2000 2300 2500 2750 3000 3200 (a) Fill in columns (2) and (4). (b) What is the value of autonomous expenditures? (c) What is the value of the MPE? (d) What is the AE equation? Question 2 Answer parts (a) - (e) below...
1. Refer the table below and answer the questions that follow. (4 Points) Aggregate Aggregate Aggregate...
1. Refer the table below and answer the questions that follow. (4 Points) Aggregate Aggregate Aggregate Planned Output Consumption Saving Investment ($ million) Y ($ million) ($ million) ($ million) Aggregate Expenditure AE=C+ 1,500 700 2,000 2,400 2,800 1,800 700 2,100 700 3,200 2,400 700 3,600 2,700 700 a. Fill in the table and find the equilibrium income. b. Find the MPC, MPS and the multiplier. c. If the planned investment increases by $100 million find the new equilibrium level...
Part I. Answer in the space below. 1. (12 marks) This is a question about the Keynesian cross diagram. Suppose that planned aggregate expenditure (PAE) is given by the equation: PAE-2000+ 0.5 (Y). You also know that actual output is 4,000 and potential output is 3,600. a. Label the axes of figure below. b. Add the PAE and Y-PAE lines. Label the lines and the vertical intercept. c. Show actual output and potential output on the horizontal axis. Represent potential...
Part B. 2. (10%) In the space provided below, discuss the following macroeconomics diagram. Your discussion should consist of complete sentences organized into complete paragraphs. Give at least one of the names for the model shown, explain the situation to which the model best applies, provide a possible scenario for what is happening in the diagram, and describe the change in equilibrium. Y = PAE Expenditure line PAE = 960 + 0.8Y Expenditure line PAE = 950 + 0.8Y Planned...
U ponunt 0 Consume 3. An economy is described by the following equations: (LO2) C = 1,800 + 0.6(Y - T) P = 900 G = 1,500 NX = 100 T = 1,500 Y* = 9,000 crical equation linking planned aggregate expenditure to output. onomous expenditure and induced expenditure in this economy. a. Find a numerical equation linking plan b. Find autonomous expenditure a or the economy described in Problem 3: (L03) a. Construct a table like Table 11.1 to...
Question 2 (5 pts) An Economy is described by the following equations C-2600+0.8(Y-T)- 10000r I-2000-10000r G-1800 Net exports are zero, net taxes T are fixed at 3000, and the real interest rate r, expressed as a decimal is 0.10 (that is, 10 percent). Find a numerical equation relating planned aggregate expenditure to output. Using a table or other method, solve for short-run equilibrium output. Show your result graphically using the Keynesian cross diagram
1. Refer the table below and answer the questions that follow. (4 Points) Aggregate Aggregate Aggregate Planned Output Consumption Saving Investment ($ million) Y ($ million) ($ million) ($ million) Aggregate Expenditure AE=C+ 1,500 700 2,000 2,400 2,800 1,800 700 2,100 700 3,200 2,400 700 3,600 2,700 700 a. Fill in the table and find the equilibrium income. b. Find the MPC, MPS and the multiplier. c. If the planned investment increases by $100 million find the new equilibrium level...
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