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Assume the United States has the following consumption information:
GDP = Income Consumption
$4000 $4500
$6000 $6000
$8000 $7500
$10000 $9000
$12000 $10500
Also the economy has G = $1100, I = $404, and XN = $15. Unemployment in the economy is currently 5.2% and inflation is 0.1%
a. What is the MPC in this economy?
b. What is the multiplier in this economy?
c. What is the equilibrium level of GDP in this economy?
d. What is the equilibrium level of Income in this economy?
Trends in current account: A glance at the net invisible account suggests that its ever- rising trend from 2000-01 did not only support the massive trade deficit but
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