ECONOMICS W/CONNECT+20 >C<
20th Edition
ISBN: 9781259714993
Author: McConnell
Publisher: MCG CUSTOM
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Chapter 32.7, Problem 4QQ
To determine
Bringing equilibrium in the economy.
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Students have asked these similar questions
Real GDP
Price Level Real GDP
Demanded (Price Index) Supplied
100
300
400
$
200
250
400
$
300
200
300
$
400
150
200
$
500
150
S
100
Using the above table (all Real GDP values are in billions of
dollars), what are the:
Equilibrium Price Level: Blank 1
Equilibrium Real Output: $Blank 2billion (do NOT enter
the '$' nor 'billion' in your response)
Suppose that buyers desire to purchase $200 billion of
extra real output at each price level, what are the new:
Equilibrium Price Level: Blank 3
Equilibrium Real Output: $Blank 4billion
Suppose gold (G) and silver (S) are substitutes for each other because both serve as hedges against inflation. Suppose also that the supplies of both are fixed in the short run
(Q = 90 and Q = 300) and that the demands for gold and silver are given by the following equations:
PG = 990 - Qg +0.50PS
and
Ps = 630 -Qs +0.50PG
What the the equilibrium prices of gold and silver?
The equilibrium price of gold is $ 1420 and the equlibrium price of siliver is $ 1040. (Enter your responses rounded to two decimal places.)
What if a new discovery of gold doubles the quantity supplied to 180? How will this discovery affect the prices of both gold and silver?
The equilibrium price of gold will be $ and the equlibrium price of siliver will be $
Use the following graph, which shows an aggregate demand curve, to answer the next question.
If the price level increases from 150 to 250, the real output demanded will
Multiple Choice
increase by $800 billion.
increase by $200 billion.
decrease by $600 billion.
decrease by $200 billion.
Chapter 32 Solutions
ECONOMICS W/CONNECT+20 >C<
Ch. 32.7 - Prob. 1QQCh. 32.7 - Prob. 2QQCh. 32.7 - Prob. 3QQCh. 32.7 - Prob. 4QQCh. 32.A - Prob. 1ADQCh. 32.A - Prob. 2ADQCh. 32.A - Prob. 1ARQCh. 32.A - Prob. 2ARQCh. 32.A - Prob. 1APCh. 32.A - Prob. 2AP
Ch. 32 - Prob. 1DQCh. 32 - Prob. 2DQCh. 32 - Prob. 3DQCh. 32 - Prob. 4DQCh. 32 - Prob. 5DQCh. 32 - Prob. 6DQCh. 32 - Prob. 7DQCh. 32 - Prob. 8DQCh. 32 - Prob. 9DQCh. 32 - Prob. 1RQCh. 32 - Prob. 2RQCh. 32 - Prob. 3RQCh. 32 - Prob. 4RQCh. 32 - Prob. 5RQCh. 32 - Prob. 6RQCh. 32 - Prob. 7RQCh. 32 - Prob. 8RQCh. 32 - Prob. 9RQCh. 32 - Prob. 1PCh. 32 - Prob. 2PCh. 32 - Prob. 3PCh. 32 - Prob. 4PCh. 32 - Prob. 5P
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