Expenditure in aggregate expenditure model

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What is the difference between an induced expenditure and an autonomous expenditure in the Aggregate Expenditure model? Include a drawing a "typical" aggregate expenditure function. Label each axis. What does the intercept represent? What does the slope represent? Add the new aggregate expenditure function (for MPM> 0) in your graph in part (B). Label it AE’.

Reference no: EM131091845

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