7 You are given the following data concerning planned expenditure on Heron Island: (figures are in billions of dollars)C = 8.5 + 0.5 YdTA = 0.25 Y + 0.1Import (IM) = 0.05 + 0.1 YExport (EX) = $5.5Govt. expenditure (G) = $5Investment (I) = $3.5a. Calculate real GDP at equilibrium expenditure. Numberb. Calculate autonomous tax multiplier Numberc. Calculate investment multiplier. Numberd. Calculate marginal tax rate multiplier. Numbere. The change in real GDP resulting from a $3.2 billion rise in government expenditure. Number Using the following data, determine:National Income (GDP)1,450 billionMarginal propensity to consume, b0.7Proportional rate of taxes0.2Autonomous expenditure50 billionExports400 billionMarginal propensity to import, MPIM0.33Part 1: Level of Canadian imports, M? NumberPart 2: Level of Canadian net exports, NX? NumberPart 3: Is the trade balance in: (answer 1 for Surplus or 2 for Deficit )Number

Answered: You are given the following data…

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Economics

You are given the following data concerning planned expenditure on He C = 8.5 + 0.5 Yd TA = 0.25 Y + 0.1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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