Based on the following figures, Consumption $200 billion Depreciation........................................................20 Retained earnings...............................................12 Gross investment................................................40 Imports.................................................................70 Exports..................................................................50 Net foreign
Question:
Based on the following figures,
Consumption $200 billion
Depreciation........................................................20
Retained earnings...............................................12
Gross investment................................................40
Imports.................................................................70
Exports..................................................................50
Net foreign factor income..................................10
Government purchases......................................80
(a) How much is GDP?
(b) How much is net investment?
(c) How much is national income?
(d) If all prices were to double overnight, what would be the
(i) Change in real GDP?
(ii) Change in nominal GDP?
Step by Step Answer:
a 300 billion b 20 billion c 290 billion d i Real GDP wo...View the full answer
The Macro Economy Today
ISBN: 978-1259291821
14th edition
Authors: Bradley R. Schiller, Karen Gebhardt
