Exhibit 11-2
-Refer to the graph in the exhibit.Consider an economy characterized by the aggregate expenditure line.Suppose autonomous government spending increased by $100.What would the equilibrium real GDP be equal to?
Definitions:
Tenders
Formal offers to carry out work, supply goods, or buy land, goods, or services at a specified price.
Security Interest
A legal claim or lien on collateral, which gives the holder the right to seize property if the debtor fails to meet the obligations of a loan or agreement.
Line of Credit
An arrangement between a financial institution and a client that establishes a maximum loan balance that the borrower can access.
Inventory
The total amount of goods and materials held by a business for the purpose of sale or production.
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