GDP Consumption $440 $450 490 490 540 530 590 570 640 610 Refer to the accompanying consumption schedule in an economy. All figures are in billions of dollars. If gross investment is $34 billion, net exports are zero, and there is a lump-sum tax of $30 billion at all levels of GDP, then the after-tax equilibrium level of GDP will be Multiple Choice $490 billion. $540 billion. $590 billion. $640 billion. O O

GDP Consumption $440 $450 490 490 540 530 590 570 640 610 Refer to the accompanying consumption schedule in an economy. All figures are in billions of dollars. If gross investment is $34 billion, net exports are zero, and there is a lump-sum tax of $30 billion at all levels of GDP, then the after-tax equilibrium level of GDP will be Multiple Choice $490 billion. $540 billion. $590 billion. $640 billion. O O

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 1.4P

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