Answer the following questions.Instructions: Round your responses to the nearest dollar.a. How much more.output does the $3,900 billion economy in Germany (in 2019) produce when GDP increases by 1 percent?billionb. By how much does this increase per capita income if the 2019 population was 83 million?

Macroeconomic monitoring will remain critical since it determines the economy's final expansion path…

Answered: Instructions: Round your responses to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Instructions: Round your responses to the nearest dollar. a. How much more. output does the $3.900 billion economy in Germany (in 2019) produce when GDP increases by 1 percent? billion b. By how much does this increase per capita income if the 2019 population was 83 million?