The gross domestic product (GDP) of Country A is $2 trillion in year 1. What value of investment will increase its GDP to $4.5trillion in year 2? (present your result in the nearest billion dollars, i.e., no decimal places) Assume that the average disposable income and consumption (in real $) of this country's citizen are provided in the table below. Year Income Consumption 1 60,000 50,000 64,726 51,259
The gross domestic product (GDP) of Country A is $2 trillion in year 1. What value of investment will increase its GDP to $4.5trillion in year 2? (present your result in the nearest billion dollars, i.e., no decimal places) Assume that the average disposable income and consumption (in real $) of this country's citizen are provided in the table below. Year Income Consumption 1 60,000 50,000 64,726 51,259
Chapter9: Aggregate Demand
Section: Chapter Questions
Problem 3.7P
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Transcribed Image Text:The gross domestic product (GDP) of Country
A is $2 trillion in year 1. What value of
investment will increase its GDP to $4.5trillion
in year 2? (present your result in the nearest
billion dollars, i.e., no decimal places)
Assume that the average disposable income
and consumption (in real $) of this country's
citizen are provided in the table below.
Year Income Consumption
1
60,000
50,000
64,726
51,259
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