a. How much more output does the $22 trillion U.S. economy produce when GDP increases by 1.0 percent? in BILLION not .22 b. By how much does this increase per capita income if the U.S. population is 340 million?
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- A. By what percentage did GDP decline in 2008? B. At that rate, how much output would have been lost in the $14 trillion economy of 2008?$ Billion C. How much income did this represent for each of the 300 million U.S citizens?Assume the United States Personal Savings equals zero. Using national income accounting concepts, show what this might mean for U.S. private investment spending and the US trade relationship with the world. How would the United States finance its investment spending? How would the US finance its government budget, especially if it becomes a budget deficit? Show and explain1. Country X has following data: C = 20 + 0.8Y4, I = 30, G = 40, Tx = 20, T, = 15, X = 60, M = 20 + 0.04Y, incoming year growth target is 600, All figures is billion. Please calculate: a. National income equilibrium! b. Consumption and saving equilibrium! c. Government income from tax! d. How much change in government consumption if they want to achieve growth target?
- Currently, the US has a total consumption of $12 trillion, saving of $6 trillion, tax revenues of $5 trillion, and government spending of $7 trillion. Relative to a balanced budget, the government’s actions in this economy will cause: a. Higher interest rates today and reduced economic growth for future generations. b. Lower interest rates today and reduced economic growth for future generations. c. Higher interest rates today and enhanced economic growth for future generations. d. Lower interest rates today and enhanced economic growth for future generations.A reduction in personal income taxes increases Aggregate Demand through a. an increase in private savings. b. an increase in investment spending. c. an increase in personal consumption. d. an increase in national savings.. How much more output does the $20 trillion U.S. economy produce when GDP increases by 1.0 percent?
- 1. The curves showing the various quantities of goods and services that domestic consumers, businesses, the government, and foreign buyers collectively want to buy, at each price level, establish that: a. the higher the price level, the lower the real GDP these buyers will acquire; therefore, the lower the price level, the lower the actual production they buy b. the lower the price level, the greater the real GDP that these buyers will acquire; therefore, the higher the price level, the higher the actual output they buy c. the lower the price level, the greater the real GDP that these buyers will acquire; on the contrary, the higher the price level, the lower the real production they buy d. the higher the price level, the greater the real GDP that these buyers will acquire; therefore, the lower the price level, the lower the actual production they buy 2. The quantity of labor supplied increases when the real wage increases by: a. the increase in the labor force participation rate and…Suppose that Consumption = $260 billion, Net Investment = $20 billion, Depreciation = $60 billion, Government Spending = $80 billion, Taxes = $100 billion, Net Exports = $20 billion, and Imports = $40 billion. What does exports equal as a percent of GDP? Select one: a. 8.7% b. 10.0% c. 13.6% d. 15.2% e. 18.0%Write out the equation for desired national savings. What changesto desired national saving and desired national consumption happen whengovernment spending increases, funded by an increase in taxes? Why doesconsumption change by less than G?
- stion 11 A nation's potential output/GDP is best described as: The maximum growth rate of output/GDP a nation can sustain by keeping taxes low. The maximum level of output/GDP which can be produced with a nation's resources. A high-employment level of output/GDP. The maximum growth rate of output/GDP a nation can sustain by keeping both taxes and interest rates low. The maximum growth rate of output/GDP a nation can sustain by keeping interest rates low. Moving to the next question prevents changes to this answer. JUL 20 tv 11 MacBook Pro O □ ASuppose that every additional 3 percentage points in the investment rate boosts GDP growth by 1 percentage point. Assume also that all investment must be financed with consumer saving. Note: Investment rate = Investment/GDP The economy is currently characterized by $12 trillion $2 trillion Consumption: Saving (= Investment): GDP: $14 trillion If the goal is to raise the growth rate by 2 percentage points, a. by how much must investment increase? billion b. by how much must consumption decline? : billionThe Congressional Budget Office admits that its forecasts of next year’s GDP are off by an average of 0.5 percent. a. If the Congressional Budget Office makes its average error, by how much could it's estimate be off in a $18 trillion economy? $ billion b. If the Congressional Budget Office makes its average error, by how much could it's estimate be off in a $22 trillion economy? $ billion