# Consider possible values for short-run equilibrium output as they are given in the table below.

Consider the economy described by the following equations: C = 2000 + 0.75 (Y T) I p Show more Consider the economy described by the following equations: C = 2000 + 0.75 (Y T) I p = 900 G = 2000 NX = 200 T = 2000 Y* = 15000 a. Complete the table shown below to find short-run equilibrium output. Consider possible values for short-run equilibrium output as they are given in the table below. Instruction: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. output y Planned expenditure Y_PAE Y=PAE? 14000 y/n 14200 y/n 14400 y/n 14600 y/n 14800 y/n b. Short-run level of equilibrium output: ____. c. What is the output gap for this economy? Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. The actual unemployment rate should be rounded to two decimal places. Output gap: ______where Y* = 15000. If the natural rate of unemployment is 5 percent what is the actual unemployment rate for this economy (use Okuns law given Y* = 15000). Actual unemployment rate: ____%. Show less Posted in Uncategorized