The table shows a private open economy. All figures are in billions of dollars. Real GDP C+ lg Net Exports $420 460 500 540 580 620 660 $400 450 500 550 600 650 700 Refer to the above table. If net exports increased by $10 billion at each level of GDP, the equilibrium real GDP would be: Multiple Choice O $650 $20 20 20 20 20 20 20 Not determinate in the table $610

The table shows a private open economy. All figures are in billions of dollars. Real GDP C+ lg Net Exports $420 460 500 540 580 620 660 $400 450 500 550 600 650 700 Refer to the above table. If net exports increased by $10 billion at each level of GDP, the equilibrium real GDP would be: Multiple Choice O $650 $20 20 20 20 20 20 20 Not determinate in the table $610

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Real GDP Consumption Planned Investment Government Purchases Net Exports $5,000 $4,500 $500 $325 -125 6,000 5,300 $500 $325 -125 7,000 6,100 $500 $325 -125 8,000 6,900 $500 $325 -125 3 A Answer the questions based on the table below. The values are in millions of dollars. What is the equilibrium level of real GDP? What is the MPC? If potential GDP is $7,000 million, is the economy at full employment? If not, what is the condition of the economy? If the economy is not at full employment, by how much should government spending increase so that the economy can move to the full employment level of GDP?
The table below shows data for three fictitious countries. a. Compute the current MPC for each country. Instructions: Round your answers to two decimal places. Income and Consumption Data, Three Countries Change in Income (dollars) $8,900 30,400 5,120 Change in Consumption (dollars) $4,461 18,750 3,840 Country Adrup Bedrup Cedrup b. Which country has the highest marginal propensity to save (MPS)? (Click to select) c. If income in Bedrup increases by $240 and income in Cedrup increases by $480, which of the following statements is correct? MPC O Neither Bedrup nor Cedrup will save any dollars. O Bedrup will save more dollars. Cedrup will save more dollars. O Dollar savings will be the same for both Bedrup and Cedrup.
If consumption expenditures are $1800 million, gross investment is $450 million, imports are $350 million, exports are $180 million, government expenditure on goods and services is $120 million, and government transfer payments are $180 million and net taxes are $250 million; a) Calculate the GDP. b) Is there budget deficit or surplus? Calculate. c) How much is the private (household) saving? d) How much is the disposable income?
The table below shows data for three fictitious countries. a. Compute the current MPC for each country. Instructions: Round your answers to two decimal places. Income and Consumption Data, Three Countries Change in Income (dollars) $9,830 40,000 5,870 Change in Consumption (dollars) $6,789 31,650 5,500 b. Which country has the highest marginal propensity to save (MPS)? (Click to select) c. If income in Bedrup increases by $360 and income in Cedrup increases by $690, which of the following statements is correct? Country Adrup Bedrup Cedrup MPC O Neither Bedrup nor Cedrup will save any dollars. O Cedrup will save more dollars. O Bedrup will save more dollars. O Dollar savings will be the same for both Bedrup and Cedrup.
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Use the information in the table to answer the following questions. All numbers are in billions of 2012 dollars. Planned Investment (1) Real GDP (Y) $14,000 $15,000 $16,000 $17,000 $18,000 The equilibrium level of GDP is $ The MPC is billion. Consumption (C) $11,000 $11,750 $12,500 $13,250 $14,000 $1,500 $1,500 $1,500 $1,500 $1,500 (enter your response to two decimal places). Suppose that net exports increase by $400 billion. Using the multiplier formula, determine the new level of GDP. A $400 billion increase in net exports leads to a change in spending of $ billion, so the new level of GDP will be $ billion. Government Purchases (G) $2,500 $2,500 $2,500 $2,500 $2,500 Net Exports (NX) - $500 - $500 - $500 - $500 - $500
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Refer to the graph above for a private closed economy. At the equilibrium level of GDP, saving will be: Select one: a. $50 billion b. $100 billion c. $150 billion d. Cannot be determined from the information given
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Consider two nations, Spendia and Savia. The MPC for Spendia is 0.8, and the MPC for Savia is 0.5. Assume that both nations experience an increase in gross investment (1) of $150 million at their existing GDP levels. Instructions: In part a, enter your answers for changes in income as a whole number and multiplier answers to 2 decimal places. In part b, round your answers to 2 decimal places. a. Considering the multiplier effect, what will be the overall increase in income (Y) for each nation? The increase in income for Spendia is $ 100 million, describing an expenditures multiplier of The increase in income for Savia is $ 100 million, describing an expenditures multiplier of b. Now assume that a third nation experiences an increase of $375 million in its income and its gross investment (I) increases by the same amount as Spendia and Savia, which is $150 million. The expenditures multiplier of this third nation is suggesting an MPC of 0.45
2 Task 7. National economy is characterised by the following data: Private consumption C= 400 + 0.6*Y, Gross investment Ig G = 240, Exports Ex-120, Imports Im-110, calculate: a) Equilibrium level of income Y 210, Govermment expenditures b) MPC and MPS values c) Private consumption C H (UNITED KINGDOM) F7 F9 F10 F11 PrtScr Insert 8. T Y. K L