1.Exports have the same macroeconomic effect upon GDP as:

A.imports

B.investment

C.taxes

D.saving

2.If equilibrium output in an open economy is $1000 billion, and consumption is $700 billion at that level of real output, then:

A.positive unplanned investment must be occurring

B.net exports must be $300 billion

C.G + I + X must equal $300 billion

D.G + I + (X-M) must equal $300 billion

AS, Price Level AD HAD, Q. Q Q, Real GDP 3. Refer the figure above. If equilibrium real output is Q2, then: A. aggregate demand is AD, B. the equilibrium price level is P, C. producers will supply output level Q, D. the equilibrium price level is P2In the following table for a hypothetical country, C is consumption, I is investment, G is government purchases, X is exports, and M is imports. All figures except the price level are in billions of dollars. Price Level C = G X M 128 $18 $2 $3 $4 $5 125 20 4 3 4 4 122 22 6 3 4 3 119 24 8 3 4 2 116 26 10 3 4 4. If equilibrium real output is $42 billion in this country, the level of consumption will be: A. $18 billion B. $20 billion C. $26 billion D. $24 billionInvestment Demand Curve 12 Real Rate of Return and Real Interest Rate (%) b C 8 d 4 D A B C D 0 10 20 30 40 Investment (2018 $ billions) 7. Consider the investment demand curve above. If the real interest rate is slightly below 8 percent, what projects will be pursued by businesses? A. Project A only B. Projects A and B C. Projects B and C