The economy of Egypt is measured in millions of dollars and is described by theC=75+0.75(Y - T)T= 601 = 80G = 120NX=5Y* = 890Find the output gap as a percentage.10.1%2.1%O-1.1%5.6%

The objective of the question is to calculate the output gap as a percentage for the economy of…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The economy of Egypt is measured in millions of dollars and is described by the C=75+0.75(Y - T) T= 60 1 = 80 G = 120 NX=5 Y* = 890 Find the output gap as a percentage. 10.1% 2.1% O-1.1% 5.6%