Suppose velocity = 5, money supply = $200, and price = 2. What is the value of real GDP?

Refer to the above graph. If this economy was an open economy without a government sector, the level of GDP would be:

A.  $100 billion
B.  $200 billion
C.  $300 billion
D.  $400 billion

The amount by which an aggregate expenditures schedule must shift upward to achieve the full-employment GDP is a(n):

A.  Inflationary expenditure gap B.  Recessionary expenditure gap C.  Expenditure multiplier gap D.  Negative net export gap