Table 1 gives real GDP (Y) and its components in billions of dollars. 1. Calculate aggregate planned
Question:
Table 1 gives real GDP (Y) and its components in billions of dollars.
1. Calculate aggregate planned expenditure when real GDP is $200 billion and when real GDP is $600 billion.
2. Calculate equilibrium expenditure.
3. If real GDP is $200 billion, explain the process that moves the economy toward equilibrium expenditure.
4. If real GDP is $600 billion, explain the process that moves the economy toward equilibrium expenditure.
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1 Aggregate planned expenditure equals C I G X M When real GDP is 200 billion row B of Table 1 aggre...View the full answer
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