Question: Please help me find the answer to question c),d) and e) and provide me clear explanation, thank you. Answer the questions below based on the

Please help me find the answer to question c),d) and e) and provide me clear explanation, thank you.

Answer the questions below based on the following economy: 0 = 4,500 + 0.5(Y- n l= is = 1,500 T: To = 2.500 Yp =14,000 Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at least two decimal places. a) Find autonomous expenditure. Autonomous Expenditure = $- b) Find the multiplier. Multiplier = c) Find short-run equilibrium output. Short-run Equilibrium Output = $I 0]) Find the output gap. Output Gap = $I e) By how much would autonomous expenditure have to change to eliminate the output gap? by$l
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
