Chapter 11 - Assignment 2: U.S. Economic Performance in 1997
Read Chapter 2 of the Economic Report of the President, 1998 from the beginning through the
end of the section entitled: "Aggregate Spending in 1997."
- What happened to aggregate expenditures in 1997?
- Examine the changes in C, I, G, and X presented in Table 2-1. Did any of these components
of aggregate expenditures decline? If so, which one(s)?
- Does it appear that the output level at the end of 1997 was equal to, below, or above potential
GDP? Explain.
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