Given the original $30 billion level of exports, what would be net exports and the equilibrium GDP if imports were $10 ess at each level of GDP? Fill in the gray-shaded cells. (1) (3) Real Domestic Output (GDP = DI), Exports, Billions Billions $150 $200 $250 $300 $350 $400 $450 $500 (2) Aggregate Expenditures, Private Closed Economy, Billions $190 $230 $270 $310 $350 $390 $430 $470 $30 $30 $30 $30 $30 $30 $30 $30 (4) Imports, Billions $10 $10 $10 $10 $10 $10 $10 $10 (5) Net Exports, Billions

Given the original $30 billion level of exports, what would be net exports and the equilibrium GDP if imports were $10 ess at each level of GDP? Fill in the gray-shaded cells. (1) (3) Real Domestic Output (GDP = DI), Exports, Billions Billions $150 $200 $250 $300 $350 $400 $450 $500 (2) Aggregate Expenditures, Private Closed Economy, Billions $190 $230 $270 $310 $350 $390 $430 $470 $30 $30 $30 $30 $30 $30 $30 $30 (4) Imports, Billions $10 $10 $10 $10 $10 $10 $10 $10 (5) Net Exports, Billions

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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se the information in the table to answer the following questions All numbers are in billions of 2012 dollars Real GDP (Y) $10,000 $11,000 $12,000 Consumption (C) $8.500 $0,300 $10,100 $10,000 $11.700 Planned Investment (1) $1,000 $1,000 $1,000 $13,000 $14,000 The equilibrium level of GDP is $ 12000 billion. The MPC is 0.8 (enter your response to two decimal places) Suppose that not exports increase by $200 billion. Using the multiplier formula, determine the new level of GDP A $200 billion increase in net exports leads to a change in spending of spillon, so the new level of GDP will be $billion $1,000 $1,000 Government Purchases (G) $1,400 $1,400 $1,400 $1,400 $1,400 Net Exports (NX) -$500 -$500 $500 -$500 -$500
Question 2 Refer to the information provided in Figure 23.9 below to answer the question(s) that follow. Aggregate expenditures ($ millions) 225 200 175 150 45° AE 100 200 300 Aggregate output ($ millions) Figure 23.9 a) Refer to Figure 23.9. Write the equation for the aggregate expenditure function (AE). Show your work. b) Refer to Figure 23.9. What is the equilibrium level of output in this economy? State the equilibrium condition used to determine this. c) Explain the forces that maintain/drive the economy to this equilibrium by considering what will happen at the following two levels of output, $300 million and $100 million. You will need to discuss changes in investment through unplanned inventories and the response of output. d) Refer to Figure 23.9. How will equilibrium aggregate expenditure and equilibrium aggregate output change as a result of a decrease in investment by $20 million? e)The interest rate is an exogenous factor that effects the level of investment in an economy.…
Suppose that we are in an economy with international trade, the government, domestic consumption, and investment. The government retains a tax rate of 10%. - Suppose that we observe this economy at two levels of national income (Y) ceteris paribus: (i) Y = 1,000 and (ii) Y = 1,800. The amounts for each of these desired expenditure categories at each of these levels of Y are given by: At Y = 1,000: + Consumption = 1,000 - Government Spending = 550 %3D Investment = 150 %3D Imports = 100 t Exports = 150 At Y = 1,800: 4 Consumption = 1,560 - Government Spending = 550 Investment = 270 e %3D Imports = 180 Exports = 150 Based upon this data, answer the following questions. We will keep referring to four categories - these are Consumption (C), Investment (1), Government Spending (G), and Net Exports (NX). « | 1. Plot both of the Desired Consumption and Desired Savings Functions, with Y on the x-axis and C & S on the y-axis. Label both functions' y-intercepts, and the x-intercept for the…
5) The value of government spending in billions of dollars is A) 200. B) 600. C) 800. D) 1,000
(a) Suppose the price level in an economy rises while the money wage rate remains constant. What happens to the quantity of real GDP supplied. How will this affect the aggregate supply or aggregate demand curve? What if the potential GDP increases? Which aggregate curve is affected and how? (b) Real GDP Consumption Planned Investment Government Purchases Net Exports $1,000 $1,000 $100 $150 -$50 2,000 1,900 100 150 -50 3,000 2,800 100 150 -50 4,000 3,700 100 150 -50 From the table data provided, answer the following questions. The numbers in the table are in billions of dollars. Show all calculations. a. What is the equilibrium level of real GDP? b. What is the Marginal Propensity to Consume? c. What is the multiplier value in this economy? d. If potential GDP is $4,000 billion, is the economy at full employment? If not, what is the condition of the economy? e. If the economy is not at full employment, by how much should government spending…
Given the scatter diagram in Figure 8-1, what is the MPC (your best estimate)? a. 1 b. 2/3 c. 1/2 d. 1/3 I know the answer of this question answer is 2/3 but can you please give the explanation how 2/3 is the answer of the problem
Consider the following economy. What is the mpc in this economy? Planned Government Net Exports Aggregate Change in Real GDP (Y) Consumption (C) Investment (I') Purchases (G) (NX) Expenditures (AE) Inventories 10000 8200 800 11000 9000 600 12000 9800 13000 14000 15000 800 Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 0.50 b 0.75 C 0.80 d 0.90