Answer the questions below for the economy of Motak using the graph below.The Economy of MotakGovernment spending / net taxes40035030025020015010050200 400 600 800 1000 1200 1400 1600Real GDPNTRG1Toolsa. If GDP is $800 and government spending is G₁, the size of Motak's budget deficit is $b. If government spending is decreased by the size of the deficit in part (a), draw the new curve labelled G₂ in the graphing areaabove.c. Suppose the multiplier has a value of 2, the new level of equilibrium GDP is $d. Motak's deficit at this new level of equilibrium GDP is $billion.billion.billion.

Government spending implies money spent by the public sector on the purchase of products and…

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Answer the questions below for the economy of Motak using the graph below. The Economy of Motak NTR

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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