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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?
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The demand for money schedule shows that the quality of money that people want to hold
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All other things being held constant, what is the change in the dependent variable for a unit change in the first independent variable for the multiple regression equation: ? = 5.2
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briefly explain any five uses of national income statistics
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