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If real
____ percent of potential GDP.
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- If potential GDP for the first quarter of 2013 = $75.8 billion, and real GDP for the first quarter of 2013 = $80.3 billion, then the output gap was..........?Suppose actual real GDP is $13.19 trillion, potential real GDP is $12.96 trillion, the marginal propensity to consume is 0.75, and that the government has a balanced budget. If we ignore price effects, by how many trillions of dollars should the government change its spending to fix the gap while keeping the federal budget balanced? (Round this to two digits after the decimal and enter this value as either a positive value or a negative value without the dollar sign.)Question #12 - Suppose the U.S. economy is troubled by inflation. The economy is in equilibrium at a real GDP of $15.5 trillion, the MPC is 0.90, and the full-employment output is $15 trillion. If the government decides to eliminate the inflationary gap by cutting government spending, what should be the size of the cut?
- Suppose that an economy is in equilibrium at a level of output of $2000 million. Suppose further that the full employment level output is $600 million. What can the President along with Congress do in order to attain the full employment output? Group of answer choices Increase the taxes. Increase the government spending. Sell government securities. Buy government securities.Refer to the above diagram. The economy is at equilibrium at point C. What fiscal policy would increase real GDP? Group of answer choices Increase aggregate demand from AD2 to AD1 by decreasing taxes. Decrease aggregate demand from AD2 to AD3 by increasing taxes. Increase aggregate demand from AD1 to AD2 by increasing government spending. Make no change because the economy is at or near its full-employment level of real output.Suppose that an economy is in equilibrium at a level of output of $600 million. Suppose further that the full employment level output is $2000 million. What can the President along with Congress do in order to attain the full employment output? Group of answer choices Increase the taxes. Decrease the taxes. Sell government securities. Decrease the government spending.
- In an attempt to reduce the large budget deficit, the government raised taxes and reduced government expenditure but unemployment soared and the budget deficit actually increased. A leading economist remarked: 'The time to attempt to reduce the deficit is when the economy is at overfull employment. Then policies designed to reduce the deficit will not only work but they will also achieve other desirable macroeconomic goals.' Do you agree with the economist? Why or why not? Plz do fast asapNeed AI free solution Amid an economic recession, a government decides to implement an expansionary fiscal policy. This policy includes increasing government spending on infrastructure projects and reducing taxes to stimulate demand and create jobs. While the policy aims to boost economic activity, it also risks increasing the national debt and potentially leading to higher inflation. In this scenario, the primary objective of the expansionary fiscal policy is to: ) Reduce government spending and increase taxes A B) Stimulate economic activity and job creation C) Focus solely on long-term economic growth D) Increase the national debt and inflation(Fiscal Policy) Chapter 11 shows that increased government purchases, with taxes held constant, can eliminate a recessionary gap. How could a tax cut achieve the same result?
- If a recession persists due to nominal wage and price stickiness (i.e., slow adjustment of nominal wages downward), what kind of fiscal policy can bring us out of this recession? decreased government expenditures and increased taxes increased government expenditures and decreased taxes decreased government expenditures contractionary fiscal policyCan you answer question 36, please? 36) An automatic fiscal stabiliser is A) a monetary or fiscal policy that aims to smooth out the business cycle. B) the tendency for inflation to fall as unemployment rises. C) a tax or form of government expenditure that has the effect of reducing the size of the multiplier. D) the tendency for exchange rates to adjust automatically to changes in the demand and supply of foreign currencyPLEASE ANSWER THE QUESTIONS. * the attached photo is just connected to these questions. * If the current real GDP is P700 billion, which of the following policies would bring the economy to potential output? a. increase government spending by P25 billion b. increase government spending by P100 billion c. increase government spending by P20 billion d. decrease government spending by P100 billion. The tax multiplier is: a. -0.8 b. -1.25 c. -5 d. -4
