Business Question

Question 1 (3 points) The data you go over it on discussion 1 (table 17) show the following information for 2018: National income = 2,631,091,411,025 SAR. Consumption equal 901,785,211,764 SAR. Government expenditures equal 556,649,451,361 SAR. Export equal 1,241,822,855,996 SAR. Import equal 682,377,357,394 SAR Solve for the following: National saving. Investment. NCO. Question 2 (2 points) Assume our economy right now on the potential output (where SRAS=LRAS), explain what happen to equilibrium price, equilibrium output and SRAS when there is supply shocks (increase cost of production) and what is this called? We could go back to the long run (potential output) through two scenarios; what are they? Hint: supply curve (SRAS or LRAS) shift, so there is recession, then we could go back to potential output using policy or automatically go back into long run output. You could graph to illustrate the changes. Requirements: Normal

Prof. Angela

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