This is an assignment for the groups shown below.
Start from equilibrium in the income-expenditure model. Draw the graph and identify the equilibrium level of GDP.
Suppose there is an increase in demand for US exports from the rest of the world. How does that affect total planned expenditure in the US, GDP and employment in the US?
Show graphically and explain the economic reasoning.
Please email me your submission (one per group) by next Wednesday, Nov 16 by 7pm when I plan to go over the assignment.
Group A: Abbie Brock, Charlotte Burch, Alexis Hall
Group B: Megan Champion, Kendall Parker, Morgan Wellman
Group C: Kayte Croy, Kelsey Dickerson, Maggie Hyde
Group D: Sam Kasner, Chris Robinson, Michael Crisp
Group E: Rachel Lynch, Krystal Heflin, Karla Hernandez, Joshua Whiting
Group F: Riley West, Stephen Johnston, Amber Pierce
Group G: Maddy Wroe, Mikie Williams, Amanda Thacker
Group H: Addie Brooks, Joey Sebesky, John Parker
Group I: Jacob McDonald, Billy Senicola, Jessica Sandifer