Solved

-The Above Table Gives Information for the Nation of East

Question 298

Essay

 Real GDP, Y Consumption  expenditure, C Government  (billionvestment, I expenditure, G Exports, X (b) 2005 (billions of 2005 (billions of 2005 (billions of 2005  (billions of  Imports, M (billions of  dollars)  dollars)  dollars)  dollars) 2005 dollars) 2005 dollars) 2002601001005070400420100100509060058010010050110800740100100501301,000900100100501501,2001,060100100501701,4001,220100100501901,6001,380100100502101,8001,54010010050230\begin{array} { c c c c c c } \text { Real GDP, } Y & \begin{array} { c } \text { Consumption } \\\text { expenditure, } C\end{array} & \begin{array} { c } \text { Government } \\\text { (billionvestment, } I\end{array} & \begin{array} { c } \text { expenditure, } G\end{array} & \begin{array} { c } \text { Exports, } X \\\text { (b) 2005 (billions of 2005 (billions of 2005 (billions of 2005 } \\\text { (billions of }\end{array} & \begin{array} { c } \text { Imports, } M \\\text { (billions of }\end{array} \\\text { dollars) } & \text { dollars) } & \text { dollars) } & \text { dollars) } & 2005 \text { dollars) 2005 dollars) } \\\hline 200 & 260 & 100 & 100 & 50 & 70 \\400 & 420 & 100 & 100 & 50 & 90 \\600 & 580 & 100 & 100 & 50 & 110 \\800 & 740 & 100 & 100 & 50 & 130 \\1,000 & 900 & 100 & 100 & 50 & 150 \\1,200 & 1,060 & 100 & 100 & 50 & 170 \\1,400 & 1,220 & 100 & 100 & 50 & 190 \\1,600 & 1,380 & 100 & 100 & 50 & 210 \\1,800 & 1,540 & 100 & 100 & 50 & 230\end{array}
-The above table gives information for the nation of East Hampton.
a. Find aggregate planned expenditure for each level of real GDP.
b. What is the MPC?
c. What is the equilibrium level of real GDP?

Correct Answer:

verifed

Verified

\[\begin{array} { c c }
\begin{array} {...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents