Refer to the information provided in Figure 24.5 below to answer ...

[jazziefee]

Question 1

Refer to the information provided in Figure 24.5 below to answer the question(s) that follow.










Refer to Figure 24.5. If the economy is in equilibrium and the government decreases spending by $100 billion, equilibrium aggregate output decreases to $________ billion.

◦ 1,500
◦ 1,400
◦ 1,200
◦ 800

Question 2

Refer to the information provided in Figure 24.5 below to answer the question(s) that follow.










Refer to Figure 24.5. If the economy is in equilibrium and the government increases taxes by $100 billion, equilibrium aggregate output ________ to $________ billion.

◦ increases; 1,700
◦ decreases; 1,500
◦ decreases; 1,300
◦ decreases; 1,000

[DHRUVSHAH]

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[jazziefee]

YES! Correct, THANKS for helping me on my review

[tandmlomax84]

Thanks for the timely response, appreciate it