Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
Can you show me how to solve the following question?
Assume the following macroeconomic variable (in 55 billion) for an economy:Y = national income = Aggregate Expenditures Aggregate Expenditures = Consumption + Investment + Government Spending +Net Export Assuming that the full employment level in $5,500 billion, determine the change ingovernment spending needed to reach full employment. (Hint: calculate the current GDP, then calculate aggregate expenditures usingnational income of $5,500 and ﬁnd the difference) Consumption (80% of disposable or after tax income) + C = $300 + 0.8 (Y -$300 T) ax 20% of income InvestmentGovernment SpendingExports Imports 0.1 (Y – T)
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