In Macroland potential GDP equals $20 billion and real GDP equals $19.2 billion. Macroland has a(n) ______ gap equal to ______ percent of potential GDP.
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In Macroland potential
Macroland has a(n) ______ gap equal to ______ percent of potential GDP.
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- In two sectoral economy reflect if the revenues generated by one sector are equal to the expenditures of the other sector using circular flow diagram. (150-500 Word limit)What term is used to describe the total value of all the goods and services produced in a country over a specific time period? A) Gross Domestic Product (GDP) B) Consumer Price Index (CPI) C) Balance of Trade D) Fiscal DeficitThe table below shows aggregate values a hypothetical country. Real GDP is equal to potential GDP. The numbers are in billions of dollars. Potential GDP Net tax revenue (T) Government purchases (G) Desired Investment (I) Desired Consumption (C) 950 125 140 10 800 The government is currently experiencing a a) budget deficit b) budget surplus c) balanced budget
- If GDPMP of a country is 50 billion and product taxes are 2 billion while subsidies given are worth of 1 billion. What is GDP at factor cost ?A. By what percentage did GDP decline in 2008? B. At that rate, how much output would have been lost in the $14 trillion economy of 2008?$ Billion C. How much income did this represent for each of the 300 million U.S citizens?draw a circular flow diagram where income is $200m consumption is $120m, tax/government spending is $50m and there is no international trade Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- What happens to the following variables during an expansion? a. unemployment compensation b. welfare payments c. income tax receipts d. government budget deficits (surplus)Describe how a country of your choice’s economy is measured. Explain why it is desirable for a country to have a large GDP. Evaluate the impacts of stimulus checks on each of the components of the U.S. GDP. Identify something that would raise GDP and yet be undesirable?Assume that GDP is $6500, personal disposable income is $5600, and the government budget deficit is $400. Consumption is $3800, and the trade deficit is $100. Calculate the saving (S), investment (I), and government spending (G).
- stion 11 A nation's potential output/GDP is best described as: The maximum growth rate of output/GDP a nation can sustain by keeping taxes low. The maximum level of output/GDP which can be produced with a nation's resources. A high-employment level of output/GDP. The maximum growth rate of output/GDP a nation can sustain by keeping both taxes and interest rates low. The maximum growth rate of output/GDP a nation can sustain by keeping interest rates low. Moving to the next question prevents changes to this answer. JUL 20 tv 11 MacBook Pro O □ AYou want to explain Canada's GDP. You have quarterly data on GDP in current dollars from 2005 to 2020, Canada's population (in thousands of people), the trade deficit and the inflation rate. (b) What other regresors should you include in this model? Give at least two examples and explain why you think that they would be relevant in this model.In 2020, a simple economy relied on three sectors: manufacturing, professional services, and agriculture: A total output of $165 of agriculture are produced. Of those, $100 are external demand, $20 go back to agriculture, $30 is sold to manufacturing, and $15 is sold to professional services. A total output of $90 of manufacturing services are produced. Of those, $35 are external demand, $15 go back to manufacturing, $10 are sold to agriculture, and $30 are sold to professional services. A total output of $60 of professional services are produced. Of those, $35 are external demand, none go back to professional services, $15 is sold to agriculture, and $10 to manufacturing services. Suppose in 2020, external demand changes: agriculture doubles in demand and manufacturing demand is reduced by 50%. What is the total production of each sector?