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- The equilibrium level of real GDP is Real GDP Consumption (Y) (C) $8,000 $6,200 9,000 10,000 11,000 12,000 6,850 7,500 8,150 8,800 Planned. Gov't Net Investment Purchases Exports Aggregate Planned (1) $1,675 (G) (NX) $1,675 -$500 Expenditure $9,050 1,675 1,675 -$500 9,700 1,675 1,675 -$500 1,675 -$500 1,675 -$500 1,675 1,675 10,350 11,000 11,650 Unplanned Change in Inventories $-1,050 -700 -350 350Using the data in the table below, calculate Aggregate Expenditure (AE), Savings (S), and increasing inventories Change (UI). Please ensure you show and input the negative sign where necessary for your answers on savings and undesired inventory changes. Aggregate Expenditure (AE) Number Number Number Income (Y) 550 640 730 Consumption (C) 577.5 636 694.5 Investment (1) 135 135 135 Savings (S) Number Number Number Inventory Disequilibrium Number Number Number6000 S000 45-degree line 4000 3000 Consumption 2000 1000 1000 2000 3000 4000 5000 6000 Disposable personal income per period (billions of dollars) What is the autonomous level of consumption (give your answer in billions dollars) Consumption per period (billions of dollars)
- Problem 1. Calculate APC, MPC, MPS and APS from the following data: Income (Y) Consumption (C) (8) 1000 900 1200 1060The board of your company discusses a possible future price increase of 20% for one of the products. The argument against the increase is a decrease in sales due to the increased price. With how many units (pieces), sales can fall, without changing the total gross margin, with the following data for your company.Current sales price per piece SEK 600Variable costs per piece SEK 450Current sales volume 10,000 piecesExpenditures 4000 3000 2000 1000 1000 2000 3000 4000 Disposable Income When disposable income is 2,500, induced consumption is Multiple Choice 500 O. 500 1000
- Problem 3 Given the below data Disposable Income Consumption expenditure (dollars) 0. 100 100 180 200 260 300 340 400 420 500 500Common Property and Public Goods Problem To water their vine yards, a group of farmers in Cyprus drill identical wells and draw irrigation water from an underground aquifer. This aquifer has a natural maximum recharge rate of 340,000 liters per day (in others words, a maximum of 340,000 liters of water per day filter into this underground reservoir from natural sources). The table below shows the relationship between the daily total water output (total product) and the number of wells operating. Number of Wells Operating Total Water Output (in 1000s of Liters/Day) Total Revenue (TR) Total Cost (TC) Average Revenue (A VR) Profit 0 0 0 0 0 0 10 100 20 200 30 280 40 340 50 380 60 400 70 400 80 380 90 340 (a) The cost of operating a well is €60/day and the value of water to each farmer is €0.1/liter. Using this information and the…C= 2000 + 0.5(Y-T)T= 200G= 400I= 500______________ 10. If government spending increases by $100, equilibrium outputincreases by:(A) $100. (B) $200. (C) $400. (D) $800.
- (c) The following table is the information of the real GDP and all the expenditures (the numbers are in billions) for Country XYZ. Planned Government Real GDP (S) Consumption ($) Net Exports ($) Investment ($) 350 Purchases ($) 450 4000 3500 -100 5000 4300 350 450 -100 6000 5100 350 450 -100 7000 5900 350 450 -100 (i) What is the equilibrium level of real GDP? (ii) If potential GDP is $7000 billion, is the economy at full employment? If not, what is the condition of the economy? If the economy is not at full employment, by how much should government spending increase so that the economy can move to the full employment level of GDP?e the information in the table to answer the folowing qustiona. Al numbers are in bilions of 2012 dolars Govermment Purchases (G) $2.00 $2.500 $2.500 $2.500 $2.500 Pianned investment ( $1.000 Net Exports (NK) Real GOP (Y) Consumption (C) $12.000 $13.000 $14,000 $15.000 $10.000 $9.500 $10.250 $1.000 -$500 -$500 -5500 -$500 -$500 $1.000 $1,000 S11,750 $1.000 $12.500 $1.000 The equibrum level of GOP is S bilion The MPC is (snter your reaponse to two decimal places) Suppose that net exporta increase by $200 blion. Using the multiplier formua, determine the new level of GOP. AS200 bilon increase in net exports leads to a change in spending of S bilion, so the new level of GDP wi be billonWork out this questions An animal herder produces 300 litres of milk each year. He sells 160 litres to his neighbours and stocks 140 litres for his own consumption. Which figure should be included in household consumption: 160 litres or 300 litres?