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- the effect of gorvt spending in national income euation is to .... options : increase govt expenditure incraese national income incraese govt debt make is citizen crazyThe economy starts out on the curves AD, and SAS Suppose that people expect deflation (a falling price level), but aggregate demand remains at AD Draw a curve that shows what happens in the economy. Label it. Draw a point at the new equilibrium. Show Transcribed Text 240 200- 160- 120- 80 120 Price level (GDP deflator, 2007 = 100) LAS 40- 04 5 G 6 o SASO ADO 10 9 10 11 12 13 14 Real GDP (trillions of 2007 dollars) 15 Q QAssume an economy operates in the intermediate range of its aggregate supplycurve. For each of the following changes in conditions, state the direction of theeffect on:1. aggregate demand, 2. aggregate supply, 3. price level, and 4. real GDP. (a) An increase in government expenditure in infrastructureClick or tap here to enter text.(b) A severe recession occurs in a country, which has been a major importer of thenation’s exports.Click or tap here to enter text.(c) The federal government increases business taxesClick or tap here to enter text.(d) The Central Bank increases the cash interest rate
- An economy is at full employment. Which of the following events can create a recessionary gap? A.An increase in foreign income. B.An increase in government spending. C.An increase in taxes. D.A decrease in nominal wages.Fill in the Blanks Price Level (P) LRAS SRAS PE # AD QË QN Real GDP (Q) Type your answers in all of the blanks and submit The graph depicts an economy experiencing a(n) Type your answer here Type your answer here will increase to close the gap. Please type your answer to submit gap. If this economy is self-regulating,"During a recession more people qualify for unem ployment insurance . This will increase the government spending category of GDP and help reduce the sever ity of the recession " Do you agree with this statement ? Why or why not
- Price level AD2 AD1 Real GDP Refer to Figure 13-1. Ceteris paribus, a decrease in personal income taxes would be represented by a movement from O AD1 to AD2- O AD2 to AD1- O point B to point A. O point A to point B.1. Key facts about economic fluctuations The graph included below approximates United States business cycles between quarter one of 1947 and quarter three of 1951. The shaded region denotes periods of six or more consecutive months of declining real gross domestic product (real GDP). W 1048 1040 1000 YEAR REAL GDP (Billions of dollars) 2170 2070 1970 1870 1770 1047 1001 Source: "Current-dollar and Real GOR" Bureau of Economics Analysis. last modified May 1, 13. accessed May 15. 13. http://www.bea.gov/national/xl/gdplev.. Notice that real GDP trends upward over time but experiences ups and downs in the short run. These short-run fluctuations in real GDP are often referred to asThe German economy produces a vast array of goods and services, from cars to cannabis. The fact that nominal GDP in Germany has risen faster than real GDP suggests: Multiple Choice O that the general price level in Germany has risen that the general price level in Germany has fallen. that nothing will s happen to the German price level s that the base year of the German GDP price index has been shifted.
- If the consumption is 410 and the investment are 530 find the aggregate demand in two sector economyExplain the effect of national income when price is flexible due to the following situation: a) An increase in the money supply. b) A reduction in government spending. (explain with graphs)A decrease in real GDP at the same time that nominal GDP increases would be consistent with: None of the other optionsAn increase in the price levelA period of deflationA decrease in the GDP deflator
