Question: PLEASE ANSWER PLEASE The figure below provides information on aggregate planned expenditure and real GDP for the economy of Evetsland. Real GDP Aggregate Planned expenditure

PLEASE ANSWER PLEASE

The figure below provides information on aggregate planned expenditure and real GDP for the economy of Evetsland. Real GDP Aggregate Planned expenditure (billions of 2012 Dollars) (billions of 2012 Dollars) 0 100 200 260 400 420 600 580 800 740 As an economic advisor, you were asked to calculate the magnitude of the expenditure multiplier and determined the value to be 5. Now, your boss wants you to do the following: 1. Determine the value of expenditure that is not influenced by income. 2. Determine the value at which aggregate output is equal to planned aggregate expenditure. 3. Demonstrate how much equilibrium real GDP would increase by if investment increased from the current level of 30 billion to 60 billion

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