# suppose gdp is \$16 trillion

Now, multiply that by 16 – because the government is now \$16 trillion in debt – to see how long it will take for you to pay it back. In the current year, Marc, a single taxpayer, has ordinary income of \$35,000. C) increases the price level to 2. Market data provided by Factset. The US government has racked up \$16 trillion in debt. -Illustrate the short run effects on the macro-economy by using the aggregate supply-aggregate demand model. Suppose GDP is \$16 trillion, with \$10 trillion coming from consumption, \$2 trillion coming from gross investment, \$3.5 trillion coming from government expenditures, and \$500 billion coming from net exports. EC141 Chapter 29 Homework (Questions).docx. The only two numbers you need to calculate NDP are GDP and depreciation. A. Even fewer of us will see a billion. All rights reserved. Suppose the economy is in long-run equilibrium, with real GDP at \$16 trillion and the unemployment rate at 5%. If consumption is \$10 trillion, investment is \$2 trillion, and government purchases are \$4 trillion, then. •         To pay back one billion dollars, at a rate of one dollar per second, would take you 32 years. From these figures, please calculate net domestic product. B. (Fox News). The cost of each unit is \$100. It intentionally overspends more than a trillion dollars each year of the Obama presidency. Suppose GDP is \$16 trillion, with \$10 trillion coming from consumption, \$2 trillion coming from gross investment, \$3.5 trillion coming from government expenditures, and \$500 billion coming from net exports. If initially the money supply is \$1 trillion, velocity is 5, the price level is 1, and real GDP is \$5 trillion, an increase in the money supply to \$2 trillion. How should the General Fund report the subsidy in its financial statements? Dobson Manufacturing Company use... Business owners take a risk by offering a new product line. Suppose GDP is \$16 trillion, with \$10 trillion coming from consumption, \$2 trillion coming from gross investment, \$3.5 trillion coming from government expenditures, and \$500 billion coming from net exports. At some point you will have to pay the price. Which of the following is reflected in GDP? Aug. 17, 2012: The National Debt Clock in Midtown Manhattan shows the federal debt approaching \$16 trillion. As reported in the Russian Times, “before President Obama took … Wealth is just a measure of power. There has to be a return to sanity in Washington and the leaders the country elects this year much deal with the crisis and stop the spending. Gross Domestic Product: Items Excluded from National Production, The Money Market: Money Supply and Money Demand Curves, Shifts in the Production Possibilities Curve, Circular Flow Diagram in Economics: Definition & Example, Three Types of Unemployment: Cyclical, Frictional & Structural, Circular Flow of Economic Activity: The Flow of Goods, Services & Resources, Four Factors of Production: Land, Labor, Capital & Entrepreneurship, Perfect Competition: Definition, Characteristics & Examples, Calculating Equilibrium Price: Definition, Equation & Example, Market Equilibrium in Economics: Definition & Examples, Total Revenue in Economics: Definition & Formula, The Cobb Douglas Production Function: Definition, Formula & Example, Forms of Government: Monarchy, Democracy, Oligarchy & More, Four Functions of Management: Planning, Organizing, Leading & Controlling, Introduction to Macroeconomics: Help and Review, College Macroeconomics: Homework Help Resource, College Macroeconomics: Tutoring Solution, CLEP Principles of Macroeconomics: Study Guide & Test Prep, UExcel Introduction to Macroeconomics: Study Guide & Test Prep, Principles of Macroeconomics: Certificate Program, Macroeconomics for Teachers: Professional Development, UExcel Anatomy & Physiology: Study Guide & Test Prep, Economics 101: Principles of Microeconomics, Human Resource Management: Help and Review, Geography 101: Human & Cultural Geography, History 106: The Civil War and Reconstruction, Praxis Social Studies - Content Knowledge (5081): Study Guide & Practice, Intro to Excel: Essential Training & Tutorials, Biological and Biomedical By how much would it have to increase government spending to achieve this goal? ©2020 FOX News Network, LLC. Therefore, the correct answer is option a. Suppose the economy is in long-run equilibrium, with real GDP at \$16 trillion and the unemployment rate at 5%. Our government did. 4) Suppose the economy is in long-run equilibrium, with real GDP at \$16 trillion and the unemployment rate at 5%. This E-mail is already registered with us. Suppose GDP is \$16 trillion, with \$10 trillion coming from consumption, \$2 trillion coming from gross, investment, \$3.5 trillion coming from government expenditures, and \$500 billion coming from net, exports. Mathematically, we could write: GDP = C + I + G + NX. Quotes displayed in real-time or delayed by at least 15 minutes. Adjust PI (from part c) as required to obtain DI. The \$16.4 trillion debt ceiling could be reached just weeks after Election Day, according to a new report. Suppose GDP \$16 trillion, with \$10 trillion coming from : 1453104. You didn’t overspend the \$16 trillion. Now determine NI in two ways: first, by making the required additions or subtractions from NDP; and second, by adding up the types of income and taxes that make up NI.