Tables GOP 58.7 trillion Consumption $3.2 trillion Spending Taxes minus Transfers $2.7 trillion Government $30 trillion...

Question 1

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Tables GOP 58.7 trillion Consumption $3.2 trillion Spending Taxes minus Transfers $2.7 trillion Government $30 trillion Purch

Table 5.2 Year Price of Burgers Quantity of Burgers 2017 $4.00 100 2018 $5.00 120 2019 $6.00 150 efer to Table 5-2. What is t

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Answer #1

1) The loanable funds is equal to national saving as a result of which

Loanable Funds = GDP - Private Consumption - Government Purchases

= $8.7 trillion - $3.2 trillion - $3 trillion = $2.5 trillion

Therefore (b) is the answer to this question

2) Nominal GDP = (Sum of P2018*Q2018)

= 5*120+2.5*200 = $1100

Therefore (c)$1100 is the answer to this question

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