Homework Answers
1) Real GDP = $ 5086 billion
Consumption spending = $3641 billion
Government Spending = $650 billion
Real GDP = Consumption + Government expenditure + Investment Spending
Y = C + I + G
5086 = 3641 + 650 + Investment spending
5086 = 4291 + Investment Spending
Investment Spending = 5086 - 4291
= $ 795 billion
2) Rise in interest rate will give households an incentive to increase the amount of money they save each month . As due to higher interest rate , they are getting more money by doing savings in the bank , so this will casue them to put there money in banks . Hence it will give households an incentive to increase the amount of money they save each month .
Hence (D) part is a correct answer
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