Please help q31 ### Economic Activity Analysis Based on Output Levels**Refer to the information provided in Table 9.2 below to answer the questions that follow.**#### Table 9.2| Output (Income) Y | Net Taxes T | Consumption Spending C | Planned Investment Spending I | Government Purchases G ||-------------------|-------------|------------------------|-------------------------------|-----------------------|| 500 | 100 | 300 | 300 | 100 || 1,000 | 100 | 600 | 300 | 100 || 1,500 | 100 | 900 | 300 | 100 || 2,000 | 100 | 1,200 | 300 | 100 || 2,500 | 100 | 1,500 | 300 | 100 |**Refer to Table 9.2. At an output level of $2,500, there is an unplanned inventory**- change of $0.- increase of $400 billion.- decrease of $400 billion.- increase of $600 billion.### ExplanationTable 9.2 presents economic data for various levels of output (income). The table is divided into five columns representing:1. **Output (Income) Y:** The total output or income generated in billions of dollars.2. **Net Taxes T:** The taxes collected net of transfers in billions of dollars.3. **Consumption Spending C:** The total consumption spending by households in billions of dollars.4. **Planned Investment Spending I:** The planned investments by businesses in billions of dollars.5. **Government Purchases G:** The total government spending on goods and services in billions of dollars.#### Inventory Changes AnalysisTo determine whether there is an unplanned inventory change at an output level of $2,500:1. Calculate total spending (aggregate expenditure) for each income level: - $ C + I + G $ 2. Compare it to the actual output (income) level to infer any unplanned changes in inventory.At output level $ Y = 2,500 $:- Consumption Spending (C) = 1,500- Planned Investment Spending (I) = 300- Government Purchases (G) = 100Total Spending = $ C + I + G $ =

The aggregate demand is a factor which determines the output or the national income or the GDP. The…

Table 9.2 Planned Output (Income) Taxes Net Consumption Investment Government Spending Spendin T Purchases Y 500 100 300 300 100 1,000 1,500 2,000 100 600 300 100 100 900 300 100 100 300 1,200 1,500 100 2,500 100 300 100 Refer to Table 9.2. At an output level of $2,500, there is an unplanned inventory O change of $0. O increase of $400 billion. O decrease of $400 billion. O increase of $600 billion. 88888

Table 9.2 Planned Output (Income) Taxes Net Consumption Investment Government Spending Spendin T Purchases Y 500 100 300 300 100 1,000 1,500 2,000 100 600 300 100 100 900 300 100 100 300 1,200 1,500 100 2,500 100 300 100 Refer to Table 9.2. At an output level of $2,500, there is an unplanned inventory O change of $0. O increase of $400 billion. O decrease of $400 billion. O increase of $600 billion. 88888

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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