Look at the table below measuring GDP. What is the GDP for this country? The table shows numbers for the year 2022 in billions of dollars.CategoryAmount (billions)Consumption Spending$65Rental Income$15Interest$20Profit$25Investment Spending$15Wages$31Government Purchases$18Imports$7Exports$3Net Exports-$4

Given the following data on the market basket of goods in 2022 and 2023, calculate the total value of the basket in each year.Table:GoodsQuantityPrice in 2022Price in 2023Pens100$1.00$1.80Cans of Soda100$2.00$2.20Cups of Coffee200$2.00$3.00What is the inflation rate from 2022 to 2023?

In the fictional country of Solvoria, the economy is producing 2,300 trillion dollars in 2027, while the potential output is 2,500 trillion dollars. Which kind of gap do we have, and what type of monetary policy should the Federal Reserve use to close the gap?

Given the following data on the market basket of goods in 2022 and 2023, calculate the total value of the basket in each year.Table:GoodsQuantityPrice in 2022Price in 2023Pens100$1.00$1.80Cans of Soda100$2.00$2.20Cups of Coffee200$2.00$3.00What is the total value of the basket in 2023?

A contractionary fiscal policy:

Given a marginal propensity to consume (MPC) of 0.75, how much of an increase/decrease in government spending is needed to move the economy from E1 (actual output = 1,200 trillion dollars) to the long-run equilibrium (potential output = 1,000 trillion dollars)?

Which of the following is NOT a government transfer payment? 

If the stock of existing physical capital decreases, all other things unchanged, the aggregate demand curve will:

Given the following data on the market basket of goods in 2022 and 2023, calculate the total value of the basket in each year.Table:GoodsQuantityPrice in 2022Price in 2023Pens100$1.00$1.80Cans of Soda100$2.00$2.20Cups of Coffee200$2.00$3.00What is the total value of the basket in 2022?

If Ryan experiences an increase in his income, then we would expect Ryan’s demand for