In April 2020, the US government made a one-time payment of US$1,200 to each US resident as part of an economic rescue package. An estimated 150 million US residents were expected to receive this one-time payment. Explain the impact of this on government spending under the expenditure approach to computing GDP. Group of answer choices Government spending rises by US$1,200 Government spending rises by US$125,000 Government spending rises by US$180,000 million. There is no change to government spending
In April 2020, the US government made a one-time payment of US$1,200 to each US resident as part of an economic rescue package. An estimated 150 million US residents were expected to receive this one-time payment. Explain the impact of this on government spending under the expenditure approach to computing GDP. Group of answer choices Government spending rises by US$1,200 Government spending rises by US$125,000 Government spending rises by US$180,000 million. There is no change to government spending
Chapter9: The Keynesian Model In Action
Section: Chapter Questions
Problem 3SQ
Related questions
Question
In April 2020, the US government made a one-time payment of US$1,200 to each US resident as part of an economic rescue package. An estimated 150 million US residents were expected to receive this one-time payment. Explain the impact of this on government spending under the expenditure approach to computing GDP.
Group of answer choices
Government spending rises by US$1,200
Government spending rises by US$125,000
Government spending rises by US$180,000 million.
There is no change to government spending
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning