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Research by a team of expert economists has uncovered the consumption and import functions and produced a forecast of planned investment and exports for the economy of Glamourburg as reported below: Real GDP Y Consumption C Investment I Exports X Imports IM 0 100 100 75 25 100 190 100 75 65 200 280 100 75 105 300 370 100 75 145 400 460 100 75 185 500 550 100 75 225 600 640 100 75 265 700 730 100 75 305 800 820 100 75 345 900 910 100 75 385 1,000 1,000 100 75 425 1,100 1,090 100 75 465 1,200 1,180 100 75 505 a) What equilibrium real GDP would Glamourburg produce? Equilibrium real GDP: 0 b) What are the marginal propensities to consume and import in Glamourburg. Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places. Marginal propensity to consume: 0 Marginal propensity to import: 0 c) What is the size of the multiplier? Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places.

Research by a team of expert economists has uncovered the consumption and import functions and produced a forecast of planned investment and exports for the economy of Glamourburg as reported below: Real GDP Y Consumption C Investment I Exports X Imports IM 0 100 100 75 25 100 190 100 75 65 200 280 100 75 105 300 370 100 75 145 400 460 100 75 185 500 550 100 75 225 600 640 100 75 265 700 730 100 75 305 800 820 100 75 345 900 910 100 75 385 1,000 1,000 100 75 425 1,100 1,090 100 75 465 1,200 1,180 100 75 505 a) What equilibrium real GDP would Glamourburg produce? Equilibrium real GDP: 0 b) What are the marginal propensities to consume and import in Glamourburg. Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places. Marginal propensity to consume: 0 Marginal propensity to import: 0 c) What is the size of the multiplier? Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Research by a team of expert economists has uncovered the consumption and import functions and produced a forecast of planned investment and exports for the economy of Glamourburg as reported below: Real GDP Y Consumption C Investment I Exports X Imports IM 0 100 100 75 25 100 190 100 75 65 200 280 100 75 105 300 370 100 75 145 400 460 100 75 185 500 550 100 75 225 600 640 100 75 265 700 730 100 75 305 800 820 100 75 345 900 910 100 75 385 1,000 1,000 100 75 425 1,100 1,090 100 75 465 1,200 1,180 100 75 505 a) What equilibrium real GDP would Glamourburg produce? Equilibrium real GDP: 0 b) What are the marginal propensities to consume and import in Glamourburg. Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places. Marginal propensity to consume: 0 Marginal propensity to import: 0 c) What is the size of the multiplier? Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places.
Transcribed Image Text:Research by a team of expert economists has uncovered the consumption and import functions and produced a forecast of planned investment and exports for the economy of Glamourburg as reported below: Real GDP Y Consumption C Investment I Exports X Imports IM 0 100 100 75 25 100 190 100 75 65 200 280 100 75 105 300 370 100 75 145 400 460 100 75 185 500 550 100 75 225 600 640 100 75 265 700 730 100 75 305 800 820 100 75 345 900 910 100 75 385 1,000 1,000 100 75 425 1,100 1,090 100 75 465 1,200 1,180 100 75 505 a) What equilibrium real GDP would Glamourburg produce? Equilibrium real GDP: 0 b) What are the marginal propensities to consume and import in Glamourburg. Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places. Marginal propensity to consume: 0 Marginal propensity to import: 0 c) What is the size of the multiplier? Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places.
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