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- From the graph above, complete the aggregate expenditure function from the information provided. ( AE = ___ + ___YIf all 110 million households spent the same additional dollars on appliances, electronics, and furniture as the sample 30,000 rebate receiving households did so, how much did aggregate consumption increase?From the graph above, complete the aggregate consumption function from the information provided. C = ___ + ___Y
- What are the equations for the consumption, net exports, and aggregate expenditures functions?Refer to Table 1. The equation for the aggregate consumption function is C = 200 + 0.3Y. C = -200 + 0.2Y. C = 200 + 0.8Y. C = 200 + 0.75Y.If economists forecast a decrease in aggregate expenditure, which of the following is likely to occur?GDP will rise. GDP will fall. Wages will rise. Inventories will fall.
- Analyse with a graph the effects of an increase in government spending on the IS-LM curveTRUE/FALSE If aggregate expenditures exceed aggregate income then inventories will rise and firms will eventually lay off workers.Troll Island is a small island nation that recently experienced an autonomous change in aggregate expenditures (AE). AE increased by 77 billion, and the marginal propensity to consume on Troll Island is equal to 0.850.85. What is the change in Troll Island's real GDP after the increase in AE? Enter your answer in billions of dollars, rounded to one place after the decimal. For example, an answer of $2,500,000 should be entered as 2.5.
- Troll Island is a small island nation that recently experienced an autonomous change in aggregate expenditures (AE). AE increased by 5 billion, and the marginal propensity to consume on Troll Island is equal to 0.73. What is the change in Troll Island's real GDP after the increase in AE? Enter your answer in billions of dollars, rounded to one place after the decimal. For example, an answer of $2,500,000 should be entered as 2.5. $ ______ billionCalculate the value of MPC when MPS is given to be as 0.82Consider a simple model, such as the one developed in this chapter. The table to the right shows the levels of desired consumption, desired investment, and desired aggregate expenditures for various levels of actual national income.