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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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Need answers for the questions (Chapters 10, 11 & 12) Please see attached questions. Thanks!
ihave real gdp per capita for all countries in world .. how can i calculate world real gdp per capita by using the data.
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Explain determination of national income using aggregate demand-aggregate supply and saving-investment methods for a three sector economy.
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