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Question 22 5 pts Table 12-12 Planned Government RealGDP Consumption Investment Purchases Net Exports $4,000 $3,500 450 - 5,000 4,300 350 450 -100 6,000 5,100
Question 22 5 pts Table 12-12 Planned Government RealGDP Consumption Investment Purchases Net Exports $4,000 $3,500 450 - 5,000 4,300 350 450 -100 6,000 5,100 350 450 -100 7,000 5,900 350 450 -100 Q22. Refer to Table 12-12. Using the table above, answer the following questions. The numbers in the table are in billions of dollars. a. What is the equilibrium level of real GDP? Briey explain your reasoning. (Zpts) b. Assuming that the potential GDP is $7,600 (billions), by how much should government spending increase so that the economy can move to the full employment level of GDP? Show your work (3pt5) Edit View Insert Format Tools Table 12ptV ParagraphV B I U A V V T2V
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