For the following economy, find autonomous expenditure, the multiplier, short-run equilibrium output, and the output gap. By how much would autonomous expenditure have to change to eliminate the output gap?   C = 550 + 0.75 (Y – T ) I p = 200 G = 200 NX = 60 T = 180 Y* = 3,400   Instructions: Enter your responses as absolute numbers.  Autonomous expenditure:   875 Multiplier:   4 Short-run equilibrium output:  3500  There is   (Click to select)   an expansionary    output  gap in the amount of 100. (DO THIS PART) Autonomous expenditure would need to   decrease    by________ to eliminate the output gap.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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For the following economy, find autonomous expenditure, the multiplier, short-run equilibrium output, and the output gap. By how much would autonomous expenditure have to change to eliminate the output gap?
 

C = 550 + 0.75 (YT )
I p = 200
G = 200
NX = 60
T = 180
Y* = 3,400

 

Instructions: Enter your responses as absolute numbers. 

Autonomous expenditure:   875

Multiplier:   4

Short-run equilibrium output:  3500 

There is   (Click to select)   an expansionary    output  gap in the amount of 100.

(DO THIS PART) Autonomous expenditure would need to   decrease    by________ to eliminate the output gap. 

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