The table given below shows the levels of real GDP (Y) and the corresponding levels of consumption (C), planned investment (I), export (EX), and import (IM) of an open economy. Assume that in this country, the aggregate price level is constant, the interest rate is fixed, and there are no taxes. What is the equilibrium level of real GDP?
The table given below shows the levels of real GDP (Y) and the corresponding levels of consumption (C), planned investment (I), export (EX), and import (IM) of an open economy. Assume that in this country, the aggregate price level is constant, the interest rate is fixed, and there are no taxes. What is the equilibrium level of real GDP?
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The table given below shows the levels of real GDP (Y) and the corresponding levels of
consumption (C), planned investment (I), export (EX), and import (IM) of an open economy. Assume
that in this country, the aggregate price level is constant, the interest rate is fixed, and there are no
taxes.
What is the equilibrium level of real GDP?
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The table given below shows the levels of real GDP (Y) and the corresponding levels of
consumption (C), planned investment (1), export (EX), and import (IM) of an open economy. Assume
that in this country, the aggregate price level is constant, the interest rate is fixed, and there are no
taxes.
Table 7
Y
C
EX
IM
$0
$100
$520
$420
$480
$20
$1,500
$1,075
$520
$420
$480
$245
$3,000
$2,050
$520
$420
$480
$470
ng
$4,500
$3,025
$520
$420
$480
$695
$6,000
$4,000
$520
$420
$480
$920
$7,500
$4,975
$520
$420
$480
$1,145
Refer to Table 7. What is the equilibrium level of real GDP?
$1,500
$3,000
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