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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 15
Use the following data to work Problem.
An economy has a fixed price level, no imports, and no income taxes. An increase in autonomous expenditure of $2 trillion increases equilibrium expenditure by $8 trillion.
Calculate the multiplier and the marginal propensity to consume.
An economy has a fixed price level, no imports, and no income taxes. An increase in autonomous expenditure of $2 trillion increases equilibrium expenditure by $8 trillion.
Calculate the multiplier and the marginal propensity to consume.
Explanation
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Verified
Assume that, the increase in the autonom...
Macroeconomics 11th Edition by Michael Parkin
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