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

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Chapter5: Gross Domestic Product
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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

 

 

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