Answer the given question with a proper explanation and step-by-step solution. Demand$1,200$1,160$1000$600$200$500$1000Demand = Y$1,200Demand =a-bTO+I+G+EX-IM+b(1-t)YYAggregate Income/Aggregate Output]23.) Refer to the above figure. There is a $100 million unplanned decrease in inventories at anaggregate output level ofA) $500 millionB) $1,000 millionC) $1,200 millionD) $1,300 million 24.) Refer to the above figure. Unplanned inventories increase and output decreases whenaggregate output isA) $0B) $500 millionC) $1,000 millionD) None of the above25.) Refer to the above figure. Unplanned inventories decrease and output increases whenaggregate output isA) $1,000 millionB) $1,160 millionC) $1,200 millionD) None of the above26.) Refer to the above figure. The best approximation for the demand function is the following:A) $200 +0.6YB) $200+ 0.8YC) $100+0.6YD) None of the above

Unplanned inventories is the output produced minus aggregate expenditure. i.e., Unplanned…

Answered: Refer to the above figure. There is a…

Refer to the above figure. There is a $100 million unplanned decrease in inventories at an regate output level of $500 million $1,000 million $1,200 million $1.300 million

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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