@ Homepage - Indiana W X VitalSource Bookshelf: X B 2.4 Assignment: Study X G 2.4 Macroecon x 2.4 problems macroec X M Inbox - mw619.mw@gi X Course Hero X C bookshelf.vitalsource.com/#/books/9780134789231/cfi/6/270!/4/2/8/6@0:0 G . . The figure illustrates the components of aggregate planned expenditure on Turtle Island. Turtle Island has no imports or exports, no incomes taxes, and the price level is fixed. Q 8.0 Emoji Reactions AE Add emoji stickers to your text to mark up (billions of 2009 dollars) content in a new way! Aggregate planned expenditure 6.0 . . . ... 4.0 2.0 I+ G 1.5 O 2.0 4.0 6.0 8.0 Real GDP (billions of 2009 dollars)@ Homepage - Indiana W X VitalSource Bookshelf: X B 2.4 Assignment: Study X G 2.4 Macroecon x 2.4 problems macroec x M Inbox - mw619.mw@g x Course Hero X C bookshelf. vitalsource.com/#/books/9780134789231/cfi/6/270!/4/2/8/8/2@0:40.2 G . . Aggregg 4.0 Q . . . . 2.0 1+ G 1.5 Emoji Reactions Add emoji stickers to your text to mark up content in a new way! O 2.0 4.0 6.0 8.0 Real GDP (billions of 2009 dollars) 2. Calculate autonomous expenditure and the marginal propensity to consume. 3. a. What is aggregate planned expenditure when real GDP is $6 billion? b. If real GDP is $4 billion, what is happening to inventories? c. If real GDP is $6 billion, what is happening to inventories? 4. Explain the difference between induced consumption expenditure and autonomous consumption expenditure. Why isn't all consumption expenditure induced expenditure? 5. Explain how an increase in business investment at a constant price level changes equilibrium expenditure. The Multiplier (Study Plan 11.3)