Y C Ip G Xn $0 $800 $1,000 $1,400 −$200 2,500 2,300 1,000 1,400 −200 5,000 3,800 1,000 1,400 −200 7,500 5,300 1,000 1,400 −200 10,000 6,800 1,000 1,400 −200 Suppose you are given the data in the table above for a hypothetical economy. All data are in billions of dollars. Y is actual real GDP, and C, IP, G, and Xn are the consumption, planned investment, government purchases, and net exports components of aggregate expenditures, respectively. Calculate the equilibrium GDP (give your answer in billions of $)

Y C Ip G Xn $0 $800 $1,000 $1,400 −$200 2,500 2,300 1,000 1,400 −200 5,000 3,800 1,000 1,400 −200 7,500 5,300 1,000 1,400 −200 10,000 6,800 1,000 1,400 −200 Suppose you are given the data in the table above for a hypothetical economy. All data are in billions of dollars. Y is actual real GDP, and C, IP, G, and Xn are the consumption, planned investment, government purchases, and net exports components of aggregate expenditures, respectively. Calculate the equilibrium GDP (give your answer in billions of $)

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter9: Aggregate Expenditures

Section: Chapter Questions

Problem 7E

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QUESTION 7

Y C I_p G X_n

$0 $800 $1,000 $1,400 −$200

2,500 2,300 1,000 1,400 −200

5,000 3,800 1,000 1,400 −200

7,500 5,300 1,000 1,400 −200

10,000 6,800 1,000 1,400 −200

Suppose you are given the data in the table above for a hypothetical economy. All data are in billions of dollars. Y is actual real GDP, and C, I_P, G, and X_n are the consumption, planned investment, government purchases, and net exports components of aggregate expenditures, respectively.

Calculate the equilibrium GDP (give your answer in billions of $)

Y	C	I_p	G	X_n
$0	$800	$1,000	$1,400	−$200
2,500	2,300	1,000	1,400	−200
5,000	3,800	1,000	1,400	−200
7,500	5,300	1,000	1,400	−200
10,000	6,800	1,000	1,400	−200

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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