Consider the following information on aggregate income, consumption expenditure, and planned investment for a country: Aggregate Output/Income $3,000 3,200 Consumption Planned Investment $2,700 $500 2,850 500 3,000 500 3,150 3,300 500 500 3,450 500 4,200 3,600 500 4,400 3,750 500 T 3,400 3,600 3,800 4,000 When aggregate income is $4,200, OA. saving is $100 and unplanned investment (inventory change) is $500. B. saving is $600 and unplanned investment (inventory change) is $100. C. saving is -$600 and unplanned vestment (inventory change) is $500. OD. saving is $40 and unplanned investment (inventory change) is $100. The equilibrium level of output/income is $. (Enter your response as an integer.) Based on the information above, calculate the MPC and MPS. MPC = (Round your response to two decimal places.) MPS= (Round your response to two decimal places.) The investment multiplier is (Enter your response as an integer.) Suppose there is no change in the level of the MPC and the MPS and planned investment jumps by $400. Calculate the change in the equilibrium value of income/output. The change in equilibrium income/output is $(Enter your response as an integer.)

Consider the following information on aggregate income, consumption expenditure, and planned investment for a country: Aggregate Output/Income $3,000 3,200 Consumption Planned Investment $2,700 $500 2,850 500 3,000 500 3,150 3,300 500 500 3,450 500 4,200 3,600 500 4,400 3,750 500 T 3,400 3,600 3,800 4,000 When aggregate income is $4,200, OA. saving is $100 and unplanned investment (inventory change) is $500. B. saving is $600 and unplanned investment (inventory change) is $100. C. saving is -$600 and unplanned vestment (inventory change) is $500. OD. saving is $40 and unplanned investment (inventory change) is $100. The equilibrium level of output/income is $. (Enter your response as an integer.) Based on the information above, calculate the MPC and MPS. MPC = (Round your response to two decimal places.) MPS= (Round your response to two decimal places.) The investment multiplier is (Enter your response as an integer.) Suppose there is no change in the level of the MPC and the MPS and planned investment jumps by $400. Calculate the change in the equilibrium value of income/output. The change in equilibrium income/output is $(Enter your response as an integer.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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