ostudel trayenestaspx?testid= 17 3158434&centerwin-yes; Econ 3001 Wintersession

Question

ostudel trayenestaspx?testid= 17 3158434&centerwin-yes; Econ 3001 Wintersession 2017/2018 Quiz: Quiz Chapter 20 This Question: 1 pt 30132 (12 complete) Suppose the economy is described by the following equations C- 100+0 8Y -50-05 G·100 T-0 NX-50-1.5 Sove for aggregate output Y Use the tablo below to 1il in equililbrium values of aggregate outpus, consumption, planned investment, and net exports for different values ofr Aggregate ConsumptionPlanned Government Net Exports, NX Output, Y Expenditure. C Investment, l-pending, G 100 100 100 100 100

Explanation / Answer

Aggreagate Output Y = C+I+G+NX

Y = (100+0.8Y)+(50-0.5r)+100+(-50-1.5r)

Therefore, Y=1000-10r

Now, if we fill up the table,

Consumption

Expenditure,C

Planned

Investment,I

Government

Spending,G

r Aggregate Output,Y

Consumption

Expenditure,C

Planned

Investment,I

Government

Spending,G

Net Export,NX 0 1000 900 50 100 -50 2 980 884 49 100 -53 4 960 868 48 100 -56 6 940 852 47 100 -59 8 920 836 46 100 -62 10 900 820 45 100 -65

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