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- ggregate demand includes Answer the quantity of goods and services both the government and customers abroad want to buy. the quantity of goods and services neither the government nor customers abroad want to buy. the quantity of goods and service the government wants to buy, but not the quantity of goods and services customers abroad want to buy. the quantity of goods and services customers abroad want to buy, but not the quantity of goods and services the government wants to buy.Explain the GDP gap? (Need explanation)A change in which of the following variables will have NO direct effect on domestic demand?domestic incomegovernment spendingtaxesthe interest rate (r)none of the above
- An economy has the potential to produce $230 billion worth of goods and services. Government economists estimate the economy is actually producing $196 billion worth of goods and services. What is the GDP gap for this economy.Determine the Aggregate Supply if the Consumption is $80 and the Savings are $55 Don't use CHAT GPTthe effect of gorvt spending in national income euation is to .... options : increase govt expenditure incraese national income incraese govt debt make is citizen crazy
- If there is excess demand for goods and services in the economy at the current price level, then the: If there is excess demand for goods and services in the economy at the current price level, then the: A. price level will remain the same B. GDP will fall C. price level will increase D. price level will decreaseExercise D24 Compare two policies: a tax cut on income or an increase in government spending on roads and bridges. What are both the short-term and long—term impacts of such policies on the economy?Exercise D23 Two counties are in a recession. Country A has an MPC of 0.8 and Country B has an MPC of 0.6. In which country will government spending have the greatest impact?
- Explain the effect of national income when price is flexible due to the following situation: a) An increase in the money supply. b) A reduction in government spending. (explain with graphs)Use the information in the table below to answer this question:GDP at market prices R397bnNet primary income payments to the rest ofthe worldR37bnIndirect taxes R23bnSubsidies R11bn Calculate the value of gross national income (GNI) at market prices.What are variables that affect AS (also considered the Supply side of GDP)?