Suppose the government enacts a stimulus program composed of ​$400 billion of new government spending and ​$200 billion of tax cuts for an economy currently producing a GDP of ​$12 comma 000 billion. If all of the new spending occurs in the current year and the government expenditure multiplier is 1.5​, the expenditure portion of the stimulus package will add nothing percentage points of extra growth to the economy. ​(Round your response to two decimal places​.) As a result of the stimulus? program, the? economy's GDP was increased by ______percentage points over its value without the program.?(Round your response to two decimal places?.)If the? economy's actual growth was 33 ?percent, then without the stimulus? package, growth would have been ______percentage points.?(Round your response to two decimal places and use a minus sign if necessary?.)

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Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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