The table given below reports the value of real GDP and its components consumption (C), investment (I), exports, and imports for two consecutive years in an economy. Table 10.3 Equilibrium Real C Exports Imports GDP Year 1 $9,350 $7,500 $1,350 $1,800 Year 2 $11,450 $8,900 $2,350 $1,600 Assume that government spending is zero for this economy. Refer to Table 10.3. Assume that the economy is at equilibrium in both years, and that government spending is zero for this economy. The value of imports in year 1 is:
The table given below reports the value of real GDP and its components consumption (C), investment (I), exports, and imports for two consecutive years in an economy. Table 10.3 Equilibrium Real C Exports Imports GDP Year 1 $9,350 $7,500 $1,350 $1,800 Year 2 $11,450 $8,900 $2,350 $1,600 Assume that government spending is zero for this economy. Refer to Table 10.3. Assume that the economy is at equilibrium in both years, and that government spending is zero for this economy. The value of imports in year 1 is:
Chapter9: The Keynesian Model In Action
Section: Chapter Questions
Problem 3SQ
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