Calculate cpi in current year and percentage change in price

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Q. Supposes cost of consumer market basket rose from $200 in base year to $225 in current year. Calculate CPI in current year and percentage change in prices between base year and current year.

Q. Suppose marginal propensity to consume is 0.8, marginal tax rate is 0.25 and marginal propensity to import is 0.1. If president wants to increase income by 500, his advisers would suggest that he increase government spending by?

Reference no: EM1372453

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