Use the diagram to the right to answer the following: a. The equilibrium value of real GDP is $ trillion. (Enter your response as a whole number.) b. The MPC is equal to. (Enter your response rounded to two decimal places.) (Enter your response rounded to one decimal c. The multiplier is equal to place.) d. What is the value of unplanned changes in inventories when real GDP has each of the following values? (Enter your responses rounded to one decimal place and include a minus sign if necessary.) GDP $8 trillion $10 trillion $12 trillion Unplanned Inventories trillion trillion trillion Aggregate Expenditure, AE ($, trillions) 24.0- 22.0- 20.0- 18.0 16.0 14.0 12.0-11.6 10.0 8.4 10.0+ 8.0 6.0- 4.0 2.0- 0.0+ 45° 4 6 Fo 0 2 AE 8 10 12 8 10 12 14 16 18 20 22 24 Real GDP, Y ($, trillions) €

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Use
the diagram to the right to answer the following:
a. The equilibrium value of real GDP is $ trillion. (Enter your response as a
whole number.)
b. The MPC is equal to
c. The multiplier is equal to
place.)
(Enter your response rounded to two decimal places.)
(Enter your response rounded to one decimal
d. What is the value of unplanned changes in inventories when real GDP has each
of the following values? (Enter your responses rounded to one decimal place and
include a minus sign if necessary.)
GDP
$8 trillion
$10 trillion
$12 trillion
Unplanned Inventories
trillion
trillion
trillion
Aggregate Expenditure, AE ($, trillions)
24.0
22.0
20.0-
18.0-
16.0-
14.0
12.0-11.6
10.0
8.4
10.0+
8.0
6.0-
4.0-
-:00:
2.0-
0.0
0
45°
4
2
AE
8 10 12
6 8 10 12 14 16 18 20 22 24
Real GDP, Y ($, trillions)
Transcribed Image Text:Use the diagram to the right to answer the following: a. The equilibrium value of real GDP is $ trillion. (Enter your response as a whole number.) b. The MPC is equal to c. The multiplier is equal to place.) (Enter your response rounded to two decimal places.) (Enter your response rounded to one decimal d. What is the value of unplanned changes in inventories when real GDP has each of the following values? (Enter your responses rounded to one decimal place and include a minus sign if necessary.) GDP $8 trillion $10 trillion $12 trillion Unplanned Inventories trillion trillion trillion Aggregate Expenditure, AE ($, trillions) 24.0 22.0 20.0- 18.0- 16.0- 14.0 12.0-11.6 10.0 8.4 10.0+ 8.0 6.0- 4.0- -:00: 2.0- 0.0 0 45° 4 2 AE 8 10 12 6 8 10 12 14 16 18 20 22 24 Real GDP, Y ($, trillions)
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