Answer: the answer is 90.0
Explanation:
From the question above, we are given:
G = 11
I = 4
X = M = 0
Consumption function is:
C = k + cY
Where:
k = 3
c = 0.8
The GDP of a nation is given as:
Y = C + I + G + NX
By imputing the values into the GDP equation, we have:
Y = k + cY + 4 + 11 + 0
Y = 3 + 0.8Y +15
Y - 0.8Y = 18
0.2Y = 18
Y = 90.0
Discretionary fiscal policy is a fiscal policy action, such as a tax cut, initiated by an act of Congress.
What is discretionary fiscal policy?
Discretionary fiscal policy is a policy in which government uses taxation and spending to influence aggregate demand.
Hence, Discretionary fiscal policy is a fiscal policy action, such as a tax cut, initiated by an act of Congress.
Learn more about fiscal policy here: brainly.com/question/6483847
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Answer:
e. exists when a single seller experiences lower average total costs than any potential competitor.
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
For example, a public water supply company is an example of a monopoly because they serve as the only source of water provider to the general public in a society.
A natural monopoly exists when a single seller experiences lower average total costs than any potential competitor because of the very high start-up or initial cost and economy of scale.
Answer:
$12 billion.
Explanation:
Given: Value added during 2011= $78 billion.
Total sales= $90 billion.
Intermediate goods are the goods used to produce final product and it is not included in the calculation of GDP, however, it is included in the value of final goods.
Now, finding the value of intermediate goods purchased.
Intermediate goods= 
⇒ Intermediate goods= 
∴ Intermediate goods= 
Hence, value of intermediate goods purchased is $12 billion.
In economics, the demand schedule is a table showing the quantity demanded of a good or service at different price levels. The demand schedule can be graphed as a continuous demand curve on a chart where the Y-axis represents price and the X-axis represents quantity.
