Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
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Question
Chapter 10, Problem 12E
To determine
Use the information in the following table:
What is the equilibrium level of real GDP?
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From the following data, determine the equilibrium level of real GDP.The equilibrium level of real GDP is ______________.
Use the information below to calculate the equilibrium level of GDP. C=500+0.5Yd, I=300, G=2000, T=600. b. What happens to the equilibrium level of GDP if consumption decreases to 400?
Based on the chart in question 8.06, if investment rises from $120 to $130 and the price level is fixed. By how much will the equilibrium real GDP increase?
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- Briefly explain the reason for the near-vertical shape of the SRAS curve on its far right.arrow_forwardIf economists forecast a decrease in aggregate expenditure, which of the following is likely to occur?GDP will rise. GDP will fall. Wages will rise. Inventories will fall.arrow_forward“If taxes and government spending are increased by the same amount, there will be no effect on equilibrium GDP.” True or false? Explain and support your answer using a specific hypothetical example.arrow_forward
- Use the following equations for question 16.C = $400 +0.8Y I = $300 G = $200X = $300 -0.4Y 16. What is the equilibrium level of real GDP?arrow_forwardWhat will be the short-run effect of the shift in the reaction function on GDP?arrow_forwardWhat is the effect on aggregate expenditure if the value of exports exceeds the value of imports in a country?arrow_forward
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