Use #21 to answer #22 22. Using the macroeconomic data in #21 above and assuming a full employmenteconomic output of $800. The economy's is experiencing a/anGDP gap; and that thegovernment should(increase or decrease) spending ofto close up such gap.recessionary ; increase ; $18.75cannot be computed based on information providedrecessionary ; increase ; $300inflationary ; decrease ; $300inflationary ; decrease ; $18.75 21. Given the following macroeconomic data of a hypothetic economy:C = 175 + 0.75(DI)| = 50G = 35X = 30M = 45%DT= 35%3D

22. Using the macroeconomic data in #21 above and assuming a full employment economic output of $800. The economy's is experiencing a/an GDP gap; and that the to close up such gap. government should -- (increase or decrease) spending of , recessionary ; increase ; $18.75 cannot be computed based on information provided recessionary ; increase ; $300 inflationary ; decrease ; $300 inflationary ; decrease ; $18.75

22. Using the macroeconomic data in #21 above and assuming a full employment economic output of $800. The economy's is experiencing a/an GDP gap; and that the to close up such gap. government should -- (increase or decrease) spending of , recessionary ; increase ; $18.75 cannot be computed based on information provided recessionary ; increase ; $300 inflationary ; decrease ; $300 inflationary ; decrease ; $18.75

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

Use #21 to answer #22

22. Using the macroeconomic data in #21 above and assuming a full employment
economic output of $800. The economy's is experiencing a/an
GDP gap; and that the
government should
(increase or decrease) spending of
to close up such gap.
recessionary ; increase ; $18.75
cannot be computed based on information provided
recessionary ; increase ; $300
inflationary ; decrease ; $300
inflationary ; decrease ; $18.75

21. Given the following macroeconomic data of a hypothetic economy:
C = 175 + 0.75(DI)
| = 50
G = 35
X = 30
M = 45
%D
T= 35
%3D

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