Hi, i need help with part a and d only. Thanks 7. Consider the following two tables that describe Kazakhstan's economy, where Investment is equal to 246.4:BudgetBalance Exports ExportsТaxNetDisposable AutonomousAggregateConsumption ConsumptionGDPRevenuesIncome3000180-320260170300013030105000300-200260110500013049307000420-802605070001306850900054040260-1090001308770Derive the Budget Balance equation: Budget Balance =Y -b. Derive the NX equation: NX =Derive the Consumption equation as a function of Yp: C =YDС.d. Calculate Kazakhstan's equilibrium GDP in the AE model where prices are fixed. Round to the nearestinteger. Equilibrium GDP =Treat the GDP you specified above as Kazakhstan's potential GDP (Y*). Now consider the following ASand AD equations: YAD = 6466– 20P + 6G; Yas = 8974 + 4P – 4Polf.If G = 500 and Poil = 45, the equilibrium price level in the economy isg. Suppose the price of oil increases dramatically to $105. The new equilibrium price level will beand equilibrium level of GDP is equal to

Gross domestic product is the value of goods and services that are produced within the given time…

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Hi, i need help with part a and d only. Thanks

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter25: The Keynesian Perspective

Section: Chapter Questions

Problem 17CTQ: In its recent report, The Conference Boards Global Economic Outlook 2015, updated November 2014...

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Question

Hi, i need help with part a and d only. Thanks

7. Consider the following two tables that describe Kazakhstan's economy, where Investment is equal to 246.4:
Budget
Balance Exports Exports
Тax
Net
Disposable Autonomous
Aggregate
Consumption Consumption
GDP
Revenues
Income
3000
180
-320
260
170
3000
130
3010
5000
300
-200
260
110
5000
130
4930
7000
420
-80
260
50
7000
130
6850
9000
540
40
260
-10
9000
130
8770
Derive the Budget Balance equation: Budget Balance =
Y -
b. Derive the NX equation: NX =
Derive the Consumption equation as a function of Yp: C =
YD
С.
d. Calculate Kazakhstan's equilibrium GDP in the AE model where prices are fixed. Round to the nearest
integer. Equilibrium GDP =
Treat the GDP you specified above as Kazakhstan's potential GDP (Y*). Now consider the following AS
and AD equations: YAD = 6466– 20P + 6G; Yas = 8974 + 4P – 4Pol
f.
If G = 500 and Poil = 45, the equilibrium price level in the economy is
g. Suppose the price of oil increases dramatically to $105. The new equilibrium price level will be
and equilibrium level of GDP is equal to

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