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ECON-1012-B-Introduction to Macroeconomics

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 Table 11.3.1
 
Real GDP

(billions of 2012 dollars)		Aggregate planned expenditure

(billions of 2012 dollars)
0100
200260
400420
600580
800740

Refer to Table 11.3.1, which shows aggregate planned expenditure and real GDP in an economy. What is the slope of economy's AE curve? 
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If AE = 100 + 0.7Y and Y = 300, which of the following changes in unplanned inventories occurs?
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Short Description: A line graph of aggregate planned expenditure versus real G D P. Long Description:The vertical axis is labelled, aggregate planned expenditure (billions of 20 12 dollars) and ranges from 0 to 400 in increments of 100. The horizontal axis is labelled, real G D P (billions of 20 12 dollars) and ranges from 0 to 400 in increments of 100. The 45 degree line slopes upward from the origin passing through the points (100, 100), (200, 200), and (300, 300). The line for C slopes upward from the point (0, 25) on the vertical axis intersecting the 45 degree line at (100, 100). The line for C + I slopes upward from the point (0, 50) on the vertical axis passing through the points (100, 125), (200, 200), and (300, 275).

Figure 11.2.3

Refer to Figure 11.2.3, which shows an economy's consumption expenditure (C) and investment (I). If the economy does not engage in international trade and has no government, what is equilibrium expenditure in this economy?
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Which of the following quotations illustrates a decrease in aggregate expenditure?
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What is the sum of the marginal propensity to save and the marginal propensity to consume?
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What is the marginal propensity to consumer?
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Fact 11.5.1

An economy has a consumption function of C = 10 + 0.8Y, investment equal to 6, government expenditure equal to 10, exports equal to 10, and an import function of M = 0.1Y.

Refer to Fact 11.5.1. What is consumption expenditure in this economy when it is at equilibrium expenditure?
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What is the value of the marginal propensity to consume?
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Table 10.3.1

The three columns of the table are titled Price level (2012 = 100), and real GDP demanded and real GDP supplied in billions of 2012 dollars. The rows display the data as follows: 100; 800; 300110; 700; 400120; 600; 500130; 500; 600140; 400; 700

Refer to Table 10.3.1, which shows the aggregate demand and aggregate supply schedules. If potential GDP is $600 billion, which of the following outcomes describes this economy?
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An economy's price level falls and real GDP decreases. Which of the following events is a possible source of the changes?
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