Assume the following to answer the following question: C= 1000+ .9 (Y-T) Tax rate = 0.1Y Imports = 0.1(Y-T) Government spending = 200 Investment = 300 Exports = 600 Potential Output = $8000 What is the current GDP in this economy?
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Assume the following to answer the following question:
- C= 1000+ .9 (Y-T)
- Tax rate = 0.1Y
- Imports = 0.1(Y-T)
- Government spending = 200
- Investment = 300
- Exports = 600
- Potential Output = $8000
What is the current
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- In Country X ( population of 100 million), the GDP per capita for the year 2022 was $10,000, and the GDP deflator for the same year was 120. The government revenue amounted to $2.5 billion, with government spending totaling $3 billion. Considering these values, calculate: a) The nominal GDP of Country X for the year 2022. b) The real GDP of Country X for the year 2022. c) The government budget balance for the year 2022. d) If the government decides to implement a policy to reduce carbon emissions, leading to increased spending of $150 million on renewable energy projects, how would this affect the government budget balance?Suppose the data BELOW is for a given year from the annual Economic Report of the President. Calculate GDP using the expenditure approach (Amount in billions of dollars): Corporate profits: $ 305Depreciation: $ 479Gross private domestic investment: $716Personal taxes: $ 565Personal saving: $120Government spending: 924Imports: $ 547Exports: $ 427Personal consumption expenditures: $ 2,966Indirect business taxes: $ 370Contributions for Social Security (FICA): $ 394Transfer payments and other income: $ 967“If taxes and government spending are increased by the same amount, there will be no effect on equilibrium GDP.” True or false? Explain and support your answer using a specific hypothetical example.
- In the above figure, which of the following policies could move the economy to potential GDP? Group of answer choices increasing government expenditures and decreasing taxes decreasing government expenditures and increasing taxes decreasing taxes and not changing government expenditures increasing government expenditures and not changing taxesGood day . can you please assist on the following question below Multiple-choice questions: Select one correct answer for each of the following. Q.1.1 Which of the following represent injections into the circular flow of income and spending?(a) Exports and investment;(b) Government spending and imports;(c) Government spending and saving;(d) Imports and saving. Q.1.2 In the circular-flow diagram, the goods markets are where: (a) The households purchase goods from firms;(b) Firms purchase goods from government;(c) Firms purchase goods from households;(d) The government purchases goods from households. Q.1.3 Money overcomes the problem of a double coincidence of wants inherent in the barter system through its function as a:(a) unit of account.(b) store of value.(c) medium of exchange.(d) standard of deferred payment.How do budget surpluses and budget deficits affect the consumption and investment components of GDP
- Equations for C, I, G, and NX are given below. If the equilibrium level of GDP is $32,000, what will the new equilibrium level of GDP be if government spending increases to 2,500?C = 5,000 + (MPC)YI = 1,500G = 2,000NX = -500An economy is described by the following equations: C = 1600 + 0.8(Y – T) I = 1000 G = 1800 T = 3000 + tY Where t denotes the marginal tax rate. Suppose potential GDP is Y* = 10,000. What marginal tax rate t would restore GDP to potential? a.0 b.0.1 c.0.2 d.0.3How do you recommend the government change GDP and taxes to stabilize the economy in each of the following scenarios? Economic growth has started slowing and the unemployment rate has increased over the past four months. There has been strong growth in GDP over the past year, unemployment is very low, and inflation has started to rise. Prices are stable, unemployment is low and the economy is growing at an average rate.
- In the economy of Kwartengland, the following figures are given for economic activity which was undertaken in 2013. All the figures are million Ghana Cedis Consumption Expenditure = 1000 + 0.8 YD Investment Spending= 600 Government Expenditure = 2450 Personal Taxes= 100 Exports= 100 Imports= 150 1. Calculate the equilibrium real GDP for the economy 2. What is the level of consumption at the equilibrium level of GDP 3. Calculate the investment and tax multipliers 4. By how much should exports change if government wishes to increase real GDP by 1000?In the economy of Kwartengland, the following figures are given for economic activity which was undertaken in 2013. All the figures are million Ghana Cedis Consumption Expenditure = 1000 + 0.8 YD Investment Spending= 600 Government Expenditure = 2450 Personal Taxes= 100 Exports= 100 Imports= 150 1. Calculate the investment and tax multipliers 2. By how much should exports change if government wishes to increase real GDP by 1000?Let us imagine that there is a country which displays the following statistics. C (Consumption) is one-half of GDP, and I (Investment) is one-sixth of GDP. G (Government expenditure) is $2000 larger than investment. The country has a trade deficit of $700. What is the country's approximate GDP? $1300 $9100 $7800 $6500
