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ECON-1012-B-Introduction to Macroeconomics
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The fact that imports increase as real GDP increases implies that imports are part of which of the following variables?
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In an economy with a fixed price level, autonomous spending is $20 trillion and the slope of the AE curve is 0.8. What are equilibrium expenditure and the multiplier?Equilibrium expenditure is ________. The multiplier is ________.
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| Table 11.3.1 |
| Real GDP(billions of 2012 dollars) | Aggregate planned expenditure (billions of 2012 dollars) |
| 0 | 100 |
| 200 | 260 |
| 400 | 420 |
| 600 | 580 |
| 800 | 740 |
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If consumption expenditure increases by $500 million when real GDP increases by $1 billion, which of the following terms describes this change in consumption expenditure?
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An economy with a fixed price level has a consumption function of C = 10 + 0.6Y, investment equal to 10, government expenditure equal to 15, exports equal to 10, and an import function of M = 0.2Y. What is equilibrium real GDP in this economy?
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You observe that unplanned inventories are increasing. Which of the following events do you predict will occur?
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An economy with a fixed price level has a consumption function of C = 10 + 0.6Y, investment equal to 10, government expenditure equal to 15, exports equal to 10, and an import function of M = 0.2Y. If investment increases to 20, what is the equation for the AE curve for this economy?
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As real GDP varies, which of the following terms equals the change in consumption expenditure minus imports?
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Fact 11.5.1An 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 the multiplier for this economy?
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