Homework Answers
Option (4).
When exports decrease by $20B,
Net exports (NX) ($B) = Exports - Imports = (50 - 20) - 60 - 30 - 60 = -30
In equilibrium, GDP = Aggregate expenditure (Closed economy) + NX = Aggregate expenditure (Closed economy) - 30
This relationship is satisfied when GDP = $450B and Aggregate expenditure (Closed economy) = $480 B.
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