GrossReal GDP (after taxes) Investment$1010ITTIT201010101010104070100130160Consumption$-20100KNetexports+545Governmentpurchaies$157. Refer to the above table. If the full-employment real GDP is $70 the151515151515OA) A. inflationary expenditure gap is $30.OB) B. recessionary and inflationary expenditure gaps are both $0.OC) C. inflationary expenditure gap is $10.OD) D. recessionary expenditure gap is $10.

As evidenced by the years following World War II, Keynesianism has advanced in its capacity to…

Real GDP 0 10 40 70 100 130 160 Consumption (after taxes) $-20 20 40 60 80 100 Gres investment $10 10 10 10 10 10 10 E Net experts 8.5 +5 +5 45 +5 -5 Government purchases $15 15 7. Refer to the above table. If the full-employment real GDP is $70 the 15 15 15 15 15 A) A. inflationary expenditure gap is $30. OB) B. recessionary and inflationary expenditure gaps are both $0. OC) C. inflationary expenditure gap is $10. OD) D. recessionary expenditure gap is $10.

Real GDP 0 10 40 70 100 130 160 Consumption (after taxes) $-20 20 40 60 80 100 Gres investment $10 10 10 10 10 10 10 E Net experts 8.5 +5 +5 45 +5 -5 Government purchases $15 15 7. Refer to the above table. If the full-employment real GDP is $70 the 15 15 15 15 15 A) A. inflationary expenditure gap is $30. OB) B. recessionary and inflationary expenditure gaps are both $0. OC) C. inflationary expenditure gap is $10. OD) D. recessionary expenditure gap is $10.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter9: Aggregate Demand

Section: Chapter Questions

Problem 4.8P

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