The Bureau of Economic Analysis reported that overall consumer spending decreased by $102.8 billion during October of
Question:
a. If there are no other changes to autonomous spending other than the decline in consumer spending in part (a), and unplanned inventory investment, IUnplanned, increased by $100 billion, what is the change in real GDP?
b. GDP at the end of September 2008 was $14,420.5 billion. If GDP were to drop by the amount calculated in part (b), what would be the percent fall in GDP?
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a a decrease in consumer spending 1028bn increase i...View the full answer
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Related Book For 
Macroeconomics Principles and Applications
ISBN: 978-1111822354
6th edition
Authors: Robert E. Hall, Marc Lieberman
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