Suppose the level of GDP happens to be 1000, what is the amount of : Householdsaving?GDPTAXDINEAE(NI)Ir400(Ca-400MPC-0.8)G-1,000(10%ofX-500(rate20%)GDP)1,0002,0003,0004,0005,0006,000O 200O -240-400

In the given table, some values of the components of aggregate demand is given.

Suppose the level of GDP happens to be 1000, what is the amount of : Household saving? GDP TAX DI M NE AE (NI) (rate 20%) (Ca-400 MPC-0.8) Ie400 G-1,000 X-500 (10% of GDP) 1,000 2,000 3,000 4,000 5,000 6,000 O 200 -240 O 400

Suppose the level of GDP happens to be 1000, what is the amount of : Household saving? GDP TAX DI M NE AE (NI) (rate 20%) (Ca-400 MPC-0.8) Ie400 G-1,000 X-500 (10% of GDP) 1,000 2,000 3,000 4,000 5,000 6,000 O 200 -240 O 400

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose the level of GDP happens to be 1000, what is the amount of : Household
saving?
GDP
TAX
DI
NE
AE
(NI)
Ir400
(Ca-400
MPC-0.8)
G-1,000
(10%
of
X-500
(rate
20%)
GDP)
1,000
2,000
3,000
4,000
5,000
6,000
O 200
O -240
-400

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Output/Income Consumption Savings MPC MPS APC APS 0 80 0-80 = -80 - - - - 100 140 100-140 = -40 0.6 0.4 1.4 -0.4 200 200 200-200=0 0.6 0.4 1 0 300 260 300-260=40 0.6 0.4 0.8666666667 0.1333333333 400 320 400-320=80 0.6 0.4 0.8 0.2 a. Assume Y= 400 Calculate the level of Consumption Hint: plug in 400 for Y into the Consumption and Savings equations, Also, calculate the following APC (C/Y); APS (S/Y) b. Calculate the Multiplier 1/(1-MPC) c. Assume Y= C + I + G + X I=20; G=30 X=0 Use the equation derived in (d) above; use this to Plug in the value of C into the equation. I=Busines Investments G= Government Spending X=Net exports