Consider an economy described by the following: C = $3 trillion 1 = $1.3 trillion G = $3.5 trillion 7 = $2 trilion NX = S-1 trillion = 1 mpc = 0.75 d = 0.3 x = 0.2 ;= 1 The expression for the MP curve is: O A. T=2+ 1x. YB. T=1+ 1x. Oc. F=1+0.75x. O D. ř=2+ 0.75x. The expression for the AD curve is: O A. Y= 14 - 1.3x. VB. Y= 18- 2x. OC. Y= 14 - 2x. O D. Y= 18 -1.3x. Assume that =2. The real interest rate is 3 %. (Round your response to two decimal places.) The equilibrium level of output is $ 14 trillion. (Round your response to two decimal places.) Suppose government spending increases to $4 trillion. What happens to equilibrium output? Equilibrium output will to S trillion. (Round your response to two decimal places.)

Consider an economy described by the following: C = $3 trillion 1 = $1.3 trillion G = $3.5 trillion 7 = $2 trilion NX = S-1 trillion = 1 mpc = 0.75 d = 0.3 x = 0.2 ;= 1 The expression for the MP curve is: O A. T=2+ 1x. YB. T=1+ 1x. Oc. F=1+0.75x. O D. ř=2+ 0.75x. The expression for the AD curve is: O A. Y= 14 - 1.3x. VB. Y= 18- 2x. OC. Y= 14 - 2x. O D. Y= 18 -1.3x. Assume that =2. The real interest rate is 3 %. (Round your response to two decimal places.) The equilibrium level of output is $ 14 trillion. (Round your response to two decimal places.) Suppose government spending increases to $4 trillion. What happens to equilibrium output? Equilibrium output will to S trillion. (Round your response to two decimal places.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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