Using the Following Table,answer the Following Questions

question 168

Essay

Using the following table,answer the following questions.The numbers in the table are in billions of dollars.
a. What is the equilibrium level of real GDP?
b. What is the MPC?
c. If potential GDP is $4000 billion,is the economy at full employment? If not,what is the condition of the economy?
d. If the economy is not at full employment,by how much should government spending increase so that the economy can move to the full employment level of GDP?

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Definitions:

Sign Language

A visual language that uses gestures, facial expressions, and body language to convey meaning, primarily used by the deaf and hard of hearing.

Comprehend Grammatical

The ability to understand and process the rules and structures that govern the syntax and morphology of a language.

Correctly Imitate

The ability to accurately replicate the actions or behaviors of others, often a key component in learning and social interaction.

Inborn Readiness

The innate propensity or tendency of an organism to respond in a certain way to certain stimuli from the moment of birth.