Consider the following closed economy, which we shall call Gazzalestan. C=20+³/5 X YD. I=2400 G=1400 TR=40 T=¹/6XY If there is a $250 increase in autonomous investment, what is the change in equilibrium real GDP (assuming no change in the price level)? Round to two decimal places and do not enter the currency symbol. If your answer is $6.114, enter

Consider the following closed economy, which we shall call Gazzalestan. C=20+³/5 X YD. I=2400 G=1400 TR=40 T=¹/6XY If there is a $250 increase in autonomous investment, what is the change in equilibrium real GDP (assuming no change in the price level)? Round to two decimal places and do not enter the currency symbol. If your answer is $6.114, enter

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter10: Keynesian Macroeconomics And Economic Instability: A Critique Of The Self Regulating Economy

Section: Chapter Questions

Problem 15QP

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Consider the following open economy: C = 40 + 0.85x YD I = 1500 G = 1600 X = 240 M = 0.12x Y TR = 10 T= 0.16V If there is a $180 increase in government expenditure, what is the change in equilibrium real GDP (assuming no change in the price level)? Do not write the dollar ($) sign, and use a minus (-) in front of a decrease. Round your answer at two (2) decimals if necessary.
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