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- Which of the following is not a component of the aggregate demand curve?a.Government spending(G)b.Investment(I)c.Consumption(C)d.Net Exports(X-M)e.SavingA decrease in real GDP at the same time that nominal GDP increases would be consistent with: None of the other optionsAn increase in the price levelA period of deflationA decrease in the GDP deflatorThe figure represents Canada's economy at point 0, its original 2019 equilibrium, before the global COVID-19 pandemic (the intersection of AD₂ and AS₂). Price Level 7 8 AS₁ Real GDP AS2 AD₁ AD₂ AS 3 AD 3
- Producers will change their prices when GDP is at the equilibrium level. True or FalseCalculate total GDP for this economy given the following components of demand. Round your answer to the nearest tenth and enter the value in trillions of dollars. Components of GDP on the Demand Side (in trillions of dollars) Consumption Investment Government spending Exports Imports Provide your answer below: trillion Total GDP 12.9 3.8 4.2 3.0 4.2 ? Calculate the rate of inflation when the Consumer Price Index went from 200 to 208. Of the 200 million people who want to work, 180 million have jobs. Calculate the unemployment rate. Calculate the expenditure multiplier when the marginal propensity to consume (MPC) is 0.7, with all other variables held constant. Calculate the Real GDP to the nearest whole number when Nominal GDP is 1224 and the price deflator is 1.04. When income increased from $14,000 to $15,000, consumption increased from $13,000 to $13,700. Calculate the MPC.
- Name two macroeconomic variables that decline when the economy goes into a recession. Name one macroeconomic variable that rises during a recession.Which of the following is not a component of the aggregate demand curve? a.Government spending(G) b. Investment (I) c. Consumption (C) d. net exports (X-M) e. SavingsThe IS curve will not shift when which of the following occurs? An increase in government spending. An increase in firm confidence. An increase in consumer confidence. An increase in the money supply. An increase in taxes. OO0O
