If the spending multiplier equals 5 and equilibrium income is $2 billion below potential GDP, then to reach the potential real GDP level. Group of answer choices total spending needs to increase by $0.1 billion nominal GDP needs to increase by $1.2 billion total spending needs to decrease by $6 billion nominal GDP needs to decrease by $12 billion total spending needs to increase by $0.4 billion

total spending needs to increase by $0.4 billion

Explanation:

Calculation to determine how much total spending needs to increase or decrease

Using this formula

Increase or Decrease in total spending=Equilibrium income/Spending multiplier

Let plug in the formula

Increase or Decrease in total spending=$2 billion/5

Increase or Decrease in total spending=$0.4 billion

Therefore If the spending multiplier equals 5 and equilibrium income is $2 billion below potential GDP, then TOTAL SPENDING NEEDS TO INCREASE BY $0.4 BILLION to reach the potential real GDP level.

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mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.

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