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17. Ahypothetical economy is described by the following parameters - gures are in billions of dollars. C = 2500 T = 1200 E13 = 400
17. Ahypothetical economy is described by the following parameters - gures are in billions of dollars. C = 2500 T = 1200 E13 = 400 f -1700 G = 2400 if -1400 in? -1490 mpg = 0.7 31.9!!! = 0.1 t = 0.2 A. What is the value of Y? Show your work and box in your answer. [5 points] B. If potential output is 9200, how much should TRlJ change (increase/decrease) to close the output gap? Make sure to specify whether the change in A??? is positive or negative. Showr your work and box in your answer. [5 points]
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