Given the following income data, please answer the questions below. Real GDP Consumption Ig Government Exports $5000 $12000 $5000 $12000 $5000 $12000 $5000 $12000 $5000 $12000 $100000 $116000 $140000 $148000 $180000 $180000 $220000 $212000 $260000 $244000 $7000 $7000 $7000 $7000 $7000 Imports $16000 $16000 $16000 $16000 $16000 a. Solve for net exports in each row. b. Solve for aggregate expenditures (AE) in each row. c. State the value for the equilibrium GDP. d. If imports were to increase by $16000 so they are now equal to $32000, solve for net exports again.

Given the following income data, please answer the questions below. Real GDP Consumption Ig Government Exports $5000 $12000 $5000 $12000 $5000 $12000 $5000 $12000 $5000 $12000 $100000 $116000 $140000 $148000 $180000 $180000 $220000 $212000 $260000 $244000 $7000 $7000 $7000 $7000 $7000 Imports $16000 $16000 $16000 $16000 $16000 a. Solve for net exports in each row. b. Solve for aggregate expenditures (AE) in each row. c. State the value for the equilibrium GDP. d. If imports were to increase by $16000 so they are now equal to $32000, solve for net exports again.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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