3. Fill in the blanks in the following table and determine the equilibriumlevel of real GDP.UuplaшedChangeRealIGNEAEGDPin Inventories$ 8,000 $ 6,200 $ 1,675- $ 500- 500- 500- 500- 5009,00010,0006,8507,5008,1501,6751,6751,67511,00012,0008,8001,675

GDP is the sum of market value of final goods and services produced within the geographical borders…

3. Fill in the blanks in the following table and determine the equilibrium level of real GDP. Unplanned Change Real I G NE AE GDP in Inventories $ 8,000 $ 6,200 | $ 1,675 6,850 7,500 8,150 8,800 $ 500 - 500 - 500 - 500 9,000 1,675 10,000 11,000 12,000 1,675 1,675 1,675 - 500

3. Fill in the blanks in the following table and determine the equilibrium level of real GDP. Unplanned Change Real I G NE AE GDP in Inventories $ 8,000 $ 6,200 | $ 1,675 6,850 7,500 8,150 8,800 $ 500 - 500 - 500 - 500 9,000 1,675 10,000 11,000 12,000 1,675 1,675 1,675 - 500

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Table 1 Real GDP Consumption Planned Investment Government Purchases Net Exports $2,000 $1,600 $250 $250 $100 2,500 2,000 250 250 100 3,000 2,400 250 250 100 3,500 2,800 250 250 100 Table 2 Real GDP Aggregate Expenditure Unplanned Change in Inventories Real GDP Will... (increase, decrease, or be in equilibrium) $2,400 2,500 3,000 3,500 Examine the Table 1 information provided and perform the following activities for Table 2: For each level of Real GDP, calculate aggregate expenditure, unplanned change in inventories, and indicate what will happen to GDP (increase, decrease or be in equilibrium). Explain how you derived the Aggregate Expenditure and Unplanned Change in Inventories Explain how the values in the Unplanned Change in Inventories column dictate what will happen to the Real GDP.…
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