Homework Answers
1) MPC = change in consumption/change in income = 15/20 = 0.75
Multiplier = 1/1-MPC = 1/0.25 = 4
Option(B)
2) Since Aggregate expenditures are more than real GDP, so GDP will rise
option(C)
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Use the data in the following table for a private closed economy to answer the next...
Use the following graph for a private closed economy to answer the next question. The multiplier...
Use the following graph for a private closed economy to answer
the next question.
The multiplier for the above economy is:
A. 2
B. 3
C. 4
D. 5
$500 C+I 450 E 400 350 a 300 250 으 200 E 150 100 U 50 45° $50 100 150 200 250 300 350 400 450 500 550 Real Domestic Output ($B) 0 3 9
Use the folowing table to answer the next question The table shows a private open economy...
Use the folowing table to answer the next question The table shows a private open economy (no government). All figures are in billions of dollars Real GDP $400 450 500 550 600 650 700 C + I $420 460 500 540 580 620 660 Net Exports $20 20 20 20 20 20 20 The equilibrium real GDP is The equilibrium real GDP is Multiple Choice $550 $600 $650 $700
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter...
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers it you are entering any negative numbers be sure to include a negative sign H in front of those numbers a Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy b. Now open up this economy to international trade by including the export and import figures of columns...
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts,...
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. a. Use columns 1 and 2 to determine the equilibrium GDP for the private closed economy. $[ 400 billion b. Now open up this economy to international trade by including the export and...
Assume the consumption schedule for a private closed economy is C-40+ 0.75Y, where C is consumption...
Assume the consumption schedule for a private closed economy is C-40+ 0.75Y, where C is consumption and Y is gross domestic product. The multiplier for this economy is(3:4:5: 10) QUESTION 23 1.75 poin An economy is experiencing a high rate of inflation. The government wants to reduce consumption by $36 billion to reduce inflationary pressure. If the MPC is 0.75, the government should raise taxes by 16 ) bilion to achieve this objective ( 6:9: 12: QUESTION 24 1.75 points...
Use the following table to answer the next question. All figures in the table below are...
Use the following table to answer the next question. All figures in the table below are in billions of dollars Aggregate Expenditures (Closed Economy - No International Exports Imports RGDP $400 450 500 550 600 650 700 Trade) $440 480 520 560 600 640 680 $50 50 50 50 50 50 50 $60 60 60 60 60 60 60 billion and the multiplier would be_. If this economy were closed to international trade, then the equilibrium real GDP would be...
Award 4.00 points The data in columns 1 and 2 in the table below are for...
Award 4.00 points The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers If you are entering any negative numbers be sure to include a of those numbers a Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy b Now open up this economy to international trade by including the export and import figures of columns 3 and...
The data in columns 1 and 2 in the table below are for a private closed...
The data in columns 1 and 2 in the table below are for a private closed economy. Instructions: For all parts, enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers a. Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy.$ billion. b. Now open up this economy to international trade by including the export and import figures of...
The data in the first two columns below are for a closed economy. Use this table...
The data in the first two columns below are for a closed economy. Use this table to answer the following questions. Real GDP Aggregate Net Ageregate = DI Expenditures Exports Imports Exports Expenditures (billions) (billions) (billions) (billions) (billions) (billions) 450 510 Number Number Number Number Number Number Number Number Number Number 5085 Number Number (a) What is the equilibrium GDP for the closed economy? Number (b) What is the size of the multiplier in the closed economy? Number (c) Including...
5. The economy below would be characterized as a domestic output AE, closed economy government 200...
5. The economy below would be characterized as a domestic output AE, closed economy government 200 230 20 250 270 20 300 310 20 350 350 20 400 390 20 450 430 20 500 470 20 A) private closed economy B) private open economy C) closed mixed economy D) open mixed economy 6. If all forms of spending below are integrated into the economy, equilibrium GDP is domestic output AE, closed economy government 200 230 20 250 270 20 300...
Use the following graph for a private closed economy to answer
the next question.
The multiplier for the above economy is:
A. 2
B. 3
C. 4
D. 5
$500 C+I 450 E 400 350 a 300 250 으 200 E 150 100 U 50 45° $50 100 150 200 250 300 350 400 450 500 550 Real Domestic Output ($B) 0 3 9
Use the folowing table to answer the next question The table shows a private open economy (no government). All figures are in billions of dollars Real GDP $400 450 500 550 600 650 700 C + I $420 460 500 540 580 620 660 Net Exports $20 20 20 20 20 20 20 The equilibrium real GDP is The equilibrium real GDP is Multiple Choice $550 $600 $650 $700
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers it you are entering any negative numbers be sure to include a negative sign H in front of those numbers a Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy b. Now open up this economy to international trade by including the export and import figures of columns...
The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. a. Use columns 1 and 2 to determine the equilibrium GDP for the private closed economy. $[ 400 billion b. Now open up this economy to international trade by including the export and...
Assume the consumption schedule for a private closed economy is C-40+ 0.75Y, where C is consumption and Y is gross domestic product. The multiplier for this economy is(3:4:5: 10) QUESTION 23 1.75 poin An economy is experiencing a high rate of inflation. The government wants to reduce consumption by $36 billion to reduce inflationary pressure. If the MPC is 0.75, the government should raise taxes by 16 ) bilion to achieve this objective ( 6:9: 12: QUESTION 24 1.75 points...
Use the following table to answer the next question. All figures in the table below are in billions of dollars Aggregate Expenditures (Closed Economy - No International Exports Imports RGDP $400 450 500 550 600 650 700 Trade) $440 480 520 560 600 640 680 $50 50 50 50 50 50 50 $60 60 60 60 60 60 60 billion and the multiplier would be_. If this economy were closed to international trade, then the equilibrium real GDP would be...
Award 4.00 points The data in columns 1 and 2 in the table below are for a private closed economy Instructions: For all parts, enter your answers as whole numbers If you are entering any negative numbers be sure to include a of those numbers a Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy b Now open up this economy to international trade by including the export and import figures of columns 3 and...
The data in columns 1 and 2 in the table below are for a private closed economy. Instructions: For all parts, enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers a. Use columns 1 and 2 to determine the equilibrium GDP for this hypothetical economy.$ billion. b. Now open up this economy to international trade by including the export and import figures of...
The data in the first two columns below are for a closed economy. Use this table to answer the following questions. Real GDP Aggregate Net Ageregate = DI Expenditures Exports Imports Exports Expenditures (billions) (billions) (billions) (billions) (billions) (billions) 450 510 Number Number Number Number Number Number Number Number Number Number 5085 Number Number (a) What is the equilibrium GDP for the closed economy? Number (b) What is the size of the multiplier in the closed economy? Number (c) Including...
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