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Assume the United States has the following consumption information:
GDP = Income Consumption
$4000 $4500
$6000 $6000
$8000 $7500
$10000 $9000
$12000 $10500
Also the economy has G = $1100, I = $404, and XN = $15. Unemployment in the economy is currently 5.2% and inflation is 0.1%
a. What is the MPC in this economy?
b. What is the multiplier in this economy?
c. What is the equilibrium level of GDP in this economy?
d. What is the equilibrium level of Income in this economy?
Collecteconomic data for three countries: Australia, China and Greece.The data is toobtainedfrom official sources as time series forthe key macroeconomic variables. These arereal G
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