10. Given the following information: Natural real GDP = 11000 Actual real GDP = 10000 Tax rate (t) = 10% Government Expenditure (G) = 1200 %3D %3D Find: 1. The amount of taxes at natural and actual real GDP. 2. Natural employment deficit (NED). 3. Actual deficit. Quolical deficit

10. Given the following information: Natural real GDP = 11000 Actual real GDP = 10000 Tax rate (t) = 10% Government Expenditure (G) = 1200 %3D %3D Find: 1. The amount of taxes at natural and actual real GDP. 2. Natural employment deficit (NED). 3. Actual deficit. Quolical deficit

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

Q. 2

10. Given the following information:
Natural real GDP = 11000
Actual real GDP = 10000
Tax rate (t) = 10%
Government Expenditure (G) = 1200
%3D
Find:
1. The amount of taxes at natural and
actual real GDP.
2. Natural employment deficit (NED).
3. Actual deficit.
4. The cyclical deficit.
5. Suppose that fiscal policy is used to
increase actual real GDP to natural real
GDP through tax cut from 10% to 8%.
Compute the new natural employment
deficit (NED).

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