7) Assume that a $1.00 increase in exports increases GDP by $3.00, and å income increases import spending by $0.15. In this case, a $1,000 million increase in exports will increase net exports by A) $550 million. B) S700 million. C) $1,000 million. D) $1,350 million. rease in

7) Assume that a $1.00 increase in exports increases GDP by $3.00, and å income increases import spending by $0.15. In this case, a $1,000 million increase in exports will increase net exports by A) $550 million. B) S700 million. C) $1,000 million. D) $1,350 million. rease in

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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Question

7) Assume that a $1.00 increase in exports increases GDP by $3.00, and a $1.00 increase in
income increases import spending by $0.15. In this case, a $1,000 million increase in exports
will increase net exports by
A) $550 million.
B) S700 million.
C) $1,000 million.
D) $1,350 million.

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