QUESTION NO. 3 Complete the following table and estimate the equilibrium levels of output and employment in this private closed economy, assuming that the level of investment is $16 billion and is independent of the level of total output. Employment (Millions) 40 45 50 55 60 65 70 75 80 GDP DI (Billions) 240 260 280 300 320 340 360 380 400 Consumption (Billions) 244 260 276 292 308 324 340 356 372 Aggregate Expenditures (Billions) Investment Saving (Billions) (Billions)
QUESTION NO. 3 Complete the following table and estimate the equilibrium levels of output and employment in this private closed economy, assuming that the level of investment is $16 billion and is independent of the level of total output. Employment (Millions) 40 45 50 55 60 65 70 75 80 GDP DI (Billions) 240 260 280 300 320 340 360 380 400 Consumption (Billions) 244 260 276 292 308 324 340 356 372 Aggregate Expenditures (Billions) Investment Saving (Billions) (Billions)
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 6SQP
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![QUESTION NO. 3
Complete the following table and estimate the equilibrium levels of output and
employment in this private closed economy, assuming that the level of investment is
$16 billion and is independent of the level of total output.
Employment
(Millions)
40
45
50
55
60
65
70
75
80
GDP DI
(Billions)
240
260
280
300
320
340
360
380
400
Consumption
(Billions)
244
260
276
292
308
324
340
356
372
Saving
(Billions)
Investment
(Billions)
Aggregate
Expenditures
(Billions)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0da8f1c9-4343-4f72-a6f1-5d707869b084%2F9d4025b7-0fd6-4794-9db4-52514c599156%2Fxgqtyzp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION NO. 3
Complete the following table and estimate the equilibrium levels of output and
employment in this private closed economy, assuming that the level of investment is
$16 billion and is independent of the level of total output.
Employment
(Millions)
40
45
50
55
60
65
70
75
80
GDP DI
(Billions)
240
260
280
300
320
340
360
380
400
Consumption
(Billions)
244
260
276
292
308
324
340
356
372
Saving
(Billions)
Investment
(Billions)
Aggregate
Expenditures
(Billions)
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