Consider the table belowprice level90100110120130140YADYAS11007501000825900900800 9757001050600 1125what is the price level and the GDPat equilibrium? express as (GDP,price level)Your answerplot the graph for price level vs. GDP

The price level and GDP, both are equilibrium at the point when aggregate demand equals to aggregate…

Consider the table below price level 90 100 110 120 130 140 YAS 750 1000 825 900 900 800 975 700 1050 600 1125 Your answer YAD 1100 what is the price level and the GDP at equilibrium? express as (GDP, price level) plot the graph for price level vs. GDP

Consider the table below price level 90 100 110 120 130 140 YAS 750 1000 825 900 900 800 975 700 1050 600 1125 Your answer YAD 1100 what is the price level and the GDP at equilibrium? express as (GDP, price level) plot the graph for price level vs. GDP

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 16E

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Answer choices for part 1 blanks: Blank 1: shortage, surplus Blank 2: falls, remains the same, rises Blank 3: decrease, do not change, increase Blank 4: decrease, do not change, increase There is one last part to this question that did not fit in the picture: Suppose the economy experiences domestic goods become relatively less expensive than foreign goods. Adjust the graph to show the effect of domestic goods become relatively less expensive than foreign goods on the economy. Which of the following best describes the effect of domestic goods become relatively less expensive than foreign goods? a.) The price level rises back to PE, and Real GDP increases from $30 trillion to $35 trillion. b.) The price level rises even higher above PE, and Real GDP increases from $30 trillion to $35 trillion. c.) The price level falls even further below PE, and Real GDP decreases from $30 trillion to $35 trillion. d.) The price level falls but remains above PE and Real GDP…
answer question B,C,D
answer D,E,F
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Using the following equation calculate the equilibrium income C=100 + 0.5Y G=500 I=600 Export=60 Imports =75
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Suppose you have the following information about production levels of Ibs. of caviar and bottles of wine, and the market-clearing prices for each of the nine allocations: 5. Caviar Wine Pricecaviar Pricewine GDP Allocation $50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 $166.67 187.50 $350.00 175.00 A 90 100 B 80 200 214.29 250.00 300.00 116.67 87.50 70 300 60 400 E 50 500 70.00 375.00 500.00 58.33 50.00 F 40 600 G 30 700 H 20 800 750.00 43.75 I 10 900 1500.00 38.89 A. How much wine must be sacrificed to produce 1 more lb. of caviar? B. Is allocation point A efficient? (As in class, prove your conclusion with math) C. Which allocation point is efficient? (As in class, prove your conclusion with math) D. Suppose government assesses a tax of $40 per bottle of wine, but no tax on caviar. i) what will be the new equilibrium? Why? ii) how much of the tax is forward shifted? Explain iii) how much of the tax is backward shifted? Explain
Are the concepts of demand for domestic goods and domestic demand for goods are same? Write briefly
Goc x gxE6sNyFVyZ8t6Cr5YQrfcD8Wt sVY/preview pru=AAABd8dfpYk*Dq4nvdIWtKn ZU Table 1 shows some data on the prices and quantities for a simple economy that produces the following goods and services. (Jadual 1 menunjukkan beberapa data harga dan kuantiti untuk sebuah ekonomi sederhanG yang menghasilkan barang dan perkhidmatan berikut ] Table 1 Price and quantity for three types of product Jadual 1 Harga dan kuantiti untuk tiga jenis produk] Year 2018 [Tahun 2018] Price Year 2019 Year 2017 [Tahun 2017] Quantity Kuantili) Product Produk Quantity (Kuantii] [Tahun 2019] Quantity [Kuantiti] Price Price (RM) (Harga RM] 1. (RM) Harga RM)] (RM) Harga (RM)] 1.25 180 75 675 200 200 90 90 100 100 120 06 05 600 05 630 (1) Compute the values of nominal GDP in 2017, 2018 and 2019. (Kirakan nilai-nilai KDNK nominal pada :01 2018 dan 2019] Compute the values of real GDP and GDP deflator in 2018 and 2019 (using 2011 as the base vear). Kirakan nilai-lai KD K sebenar dan KDNK pendefiast pada 2018 dan 2019…
Can you provide an explanation of the graph.