Jse the information in the table to answer the following questions. All numbers are in billions of 2012 dollars. Government Purchases (G) $3,250 $3,250 $3,250 $3,250 $3.250 Planned Real GDP (Y) Consumption (C) $7,500 $8,500 Investment (I) $1,000 $1,000 $9,500 $10,500 $11,500 $4,250 $4,750 $5,250 $5,750 $1,000 $1,000 $6.250 $1,000 The equilibrium level of GDP is $ billion. The MPC is (enter your response to two decimal places). Suppose that net 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 S billion, so the new level of GDP will be Sbillion.

Jse the information in the table to answer the following questions. All numbers are in billions of 2012 dollars. Government Purchases (G) $3,250 $3,250 $3,250 $3,250 $3.250 Planned Real GDP (Y) Consumption (C) $7,500 $8,500 Investment (I) $1,000 $1,000 $9,500 $10,500 $11,500 $4,250 $4,750 $5,250 $5,750 $1,000 $1,000 $6.250 $1,000 The equilibrium level of GDP is $ billion. The MPC is (enter your response to two decimal places). Suppose that net 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 S billion, so the new level of GDP will be Sbillion.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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