Author Question: Refer to the information provided in Figure 24.5 below to answer the question(s) that follow. Refer ... (Read 31 times)

jazziefee · **on:** Apr 19, 2019

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 · **Reply #1 on:** Apr 19, 2019

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