Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Table 1. Unplanned Planned Government change in Real GDP Consumption Investment Purchases Net Exports Inventories $500 $400 $100 $150 $-50 600 450 100 150 -50
Table 1. Unplanned Planned Government change in Real GDP Consumption Investment Purchases Net Exports Inventories $500 $400 $100 $150 $-50 600 450 100 150 -50 700 500 100 150 -50 800 550 100 150 -50 8. (Refer to Table 1.) Fill in the column for the "Unplanned change in inventories." 9. (Refer to Table 1.) This economy is in macroeconomic equilibrium when real GDP equals A) $500 C) $700 B) $600 D) $800 10. (Refer to Table 1). If Real GDP is currently $500, we should expect production levels to and employment levels to_ in the near future. a) increase; increase c) increase; decrease b) decrease; decrease d) decrease; increase 11. (Refer to Table 1.) If investment spending declines by $50, the change in equilibrium real GDP will be A) -$100 C) -$250 B) -$200 D) +$100 12. (Refer to Table 1.) If investment spending declines by $50, the new equilibrium real GDP is A) $600 C) $450 B) $500 D) $800
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started