The data in the first two columns below are for a closed economy without government.Use this table to answer the following questions. 
(a) What is the equilibrium GDP for the closed economy?
(b) What is the size of the multiplier in the closed economy?
(c) Including the international trade figures for exports and imports, calculate net exports and determine the equilibrium GDP for an open economy.(d) What will happen to equilibrium GDP if exports were $25 billion larger at each level of GDP?
(e) What is the size of the multiplier in the open economy?
Definitions:
Community-Based Treatment
Therapeutic interventions and support services provided in community settings, which aim to treat various conditions within the individual's social context.
Tricyclic Antidepressants
A class of antidepressant drugs that increase the levels of certain chemicals in the brain, helping to improve mood.
Benzodiazepines
A class of psychoactive drugs known for their sedative, hypnotic, anxiolytic, anticonvulsant, and muscle relaxant properties.
SAD
Seasonal Affective Disorder, a type of depression that occurs at a specific time of year, usually during winter, when there is less natural sunlight.
Q1: Suppose that by devoting all of its
Q1: What differentiates the planned equilibrium level of
Q5: Complete the following table assuming that (a)
Q7: What are two criticisms of the unemployment
Q10: (a) Using a graph showing aggregate demand,
Q25: Why do financial institutions keep reserves?
Q36: Why might trade barriers be a highly
Q44: Use the figures in the table below
Q53: Production possibilities tables for two countries, North
Q99: According to the application, Bils and Klenow