Aaron Platter Well, that's the strange thing. I've got total GDP at $7,200, as I said, and consumption expenditure at $3,000. I've also got economic investment expenditure totaling $1,800 and government purchases of $1,450...
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- 1.If the real GDP is 1000 and Investment is 150, Government Spending is 250 and Net Exports equals -100, then Consumption must be?In an economy of a specific country, the economy's consumption schedule is given in the table below. GDP=DI C 6500 6680 6800 6840 7000 7000 7200 7160 7400 7320 7600 7480 7800 7640 8000 7800 Use the above table information to answer the questions of part 1: Part 1: 1. If disposable income were $7800, how much would be saved? 2. What is the "break-even" level of disposable income? 3. What is this economy's marginal propensity to consume? 4. What is the average propensity to consume when disposable income is $7000? When disposable income is $8000? Part 2: 5. Suppose a $100 increase in desired investment spending ultimately results in a $300 increase in real GDP. What is the size of the multiplier? 6. If the MPS is .4, what is the multiplier? 7. If the MPC is .75, what is the multiplier? 8. Suppose investment spending initially increases by $50 billion in an economy whose MPC is 2/3. By how much will this ultimately change real GDP?The following table provides data for output (real GDP) and saving. a. Fill in the missing numbers (gray-shaded cells) in the table. Instructions: In the table, enter your answers for consumption as a whole number. Round your answers for APC and APS to 3 decimal places. Round your answers for MPC and MPS to 1 decimal place. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Level of Output and Income (GDP = DI) Consumption Saving АРС APS MPC MPS $480 $-16 520 560 16 600 32 640 48 680 64 720 80 760 96 800 112 Instructions: Enter your answer as a whole number. b. What is the break-even level of income in the table? 2$ What is the term that economists use for the saving situation shown at the $480 level of income? |(Click to select) V c. For each of the following items, indicate whether the value in the table is either constant or variable as income changes: The MPS: (Click to select) V The APC: (Click to select) V The MPC: (Click to…
- Which of the following is an example of an investment expenditure? A Steve purchases a new power washer for his gutter cleaning business. B Margaret buys a new home. C A florist installs new energy efficient refrigerators. D All of these are examples of investment spending.I'm doing economics homework and I'm having trouble findong the MPC. In this particular problem, consumers' disposable income increased by $525 billion and their spending increased by $283 billion.The following table provides data for output (real GDP) and saving. a. Fill in the missing numbers (gray-shaded cells) in the table. Instructions: In the table, enter your answers for consumption as a whole number. Round your answers for APC and APS to 3 decimal places. Round your answers for MPC and MPS to 1 decimal place. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Level of Output and Income (GDP DI) Consumption Saving APC APS MPC MPS $240 $-2 260 280 2 300 4 320 6 340 8 360 10 380 12 400 14 Instructions: Enter your answer as a whole number. b. What is the break-even level of income in the table? What is the term that economists use for the saving situation shown at the $240 level of income? (Click to select) c. For each of the following items, indicate whether the value in the table is either constant or variable as income changes: The MPS: (Click to select) The APC: (Click to select) v The MPC: (Click to select) v The…
- The table below provides Income and consumption Data in billions of dollars. Answer question below based on it.Disposable Consumption SavingsIncome100 80 --------200 150 --------- If the government increases spending by $5,000, then based on data in question 21, GDP in this economy will increase byClassify each of the following items as a final good or service or an intermediate good or service, and identify which is a component of consumption expenditure, investment, or government expenditure on goods and services. A. A textbook bought by a student B. A computer purchased for a senator's office C. New cars bought by Hertz, the car rental firm D. Aluminum sheets bought by Boeing 1. A is a final good that is consumption expenditure, B is a final good that is government expenditure, C is a final good that is investment, and D is an intermediate good. 2. A is a final good that is investment, B is an intermediate good, C is a final good that is investment, and D is an intermediate good. 3. A is a final good that is consumption expenditure, B is an intermediate good, C is a final good that is consumption expenditure, and D is a final good that is investment. 4. A is a final good that is consumption expenditure, B is a final good…Classify each of the following items as a final good or an intermediate good, and identify whether it is a component of consumption expenditure, investment, or government expenditure on goods and services: Item 1. Packing boxes bought by Amazon.com. Item 2. Starbuck's grande mocha frappuccino bought by a student. Item 3. A new limousine for the president. Item 4. New airplanes bought by United Airlines. Item 1 is and item 2 is A. an intermediate good; a final good that is consumption expenditure B. a final good that is consumption expenditure; a final good that is consumption expenditure O C. a final good that is consumption expenditure; a final good that is investment D. an intermediate good; a final good that is investment Item 3 is and item 4 is O A. an intermediate good; an intermediate good B. a final good that is government expenditure; a final good that is investment O C. an intermediate good; a final good that is investment O D. a final good that is government expenditure; an…
- Which of the following components of aggregate expenditure is most subject to crowding out? a. Consumption expenditures b. Government purchases of goods and services c. Imports d. Investment spending e. National savingWhat are the four categories of aggregate expenditure (demand)? Give an example of each. 9.1 Calculate the Marginal Propensity to Consume and the Marginal Propensity to Save. Fill in the blanks in the following table. Show that the MPC plus the MPS equals 1. National Income & Real GDP (Y) Consumption (C) Saving (S) MPC MPS $9,000 $8,000 $10,000 $8,600 $11,000 $9,200 $12,000 $9,800 $13,000 $10,400Use data below to answer the following questions:Consumption expenditures $300 billion, Government purchases $50 billionTaxes $40 billion, Investment $80 billion, Social Security payments $20 billionImports $30 billion, Exports $40 billiona) How much is GDP?b) How much are net exports?c) Social Security payments are government expenses. Should they be included in GDP? Explain.
