The table shows a private,open economy.All figures are in billions of dollars.
-Refer to the above table.If net exports increased by $10 billion at each level of GDP,the equilibrium real GDP would be:
Definitions:
Inflation Rate
An increase in the overall price levels of goods and services in an economy during a specified period.
CPI
stands for Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.
Market Basket
A fixed set of goods and services whose total cost is used to track inflation and the cost of living over time through price changes.
CPI
The Consumer Price Index reflects the mean fluctuation in prices for a mix of consumer products and services, as experienced by urban buyers over time.
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