Principles of Macroeconomics
7th Edition
ISBN: 9781260110982
Author: Frank, Robert
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 13, Problem 5P
(a)
To determine
The effect of an increase in government purchases from 1,500 to 1,600 on the short-run equilibrium output.
(b)
To determine
The effect of a decrease in tax collection of 100 on short-run equilibrium output.
(c)
To determine
The effect of a decrease in planned investment spending by 100 on the short-run equilibrium output.
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Active Learning 4: Computing GDP
Cookies
2021
(base year)
2022
2023
P
Q
P
Q
P
Q
$1 900
$2 1,000
$3
1,250
200 $1,200
210
Smartphones $900 185 $1,000
Use the above data to solve these problems:
A. Compute nominal GDP in 2021.
B. Compute real GDP in 2022.
C. Compute the GDP deflator in 2023.
Mankiw, Principles of Macroeconomics, 10th Edition. 2024 Cengage. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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Principles of Macroeconomics
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