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Rainbow [258]
3 years ago
8

The cyclical surplus is $450 billion, potential output is $10 trillion and tax rate is 15 percent. With this information, we can

infer that the actual output of this economy is:________.
Business
1 answer:
Nitella [24]3 years ago
4 0

Answer:

$13 trillion.

Explanation:

The actual output of economy can be calculated using the following mentioned formula:

Cyclical deficit=tax rate in question(potential output - actual output)

-$450 billion=0.15($10 trillion-actual output)

-$450 billion=$1.5 trillion-0.15*actual output

0.15*actual output=$1.5 trillion+$450 billion

0.15*actual output=$1.95 trillion

Actual output=$13 trillion.

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Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginni
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2 years ago
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