Money Banking and the Financial System
Quiz 18: Monetary Theory Ii: the Is-Mp Model
Use the following data to calculate equilibrium real GDP: C = 0.75Y,I = $2 trillion,G = $1 trillion and NX = -$0.5 trillion.
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What is the multiplier? If MPC = 0.75,what is the value of the multiplier in the simple model of the economy?
Explain how an increase in real interest rates affects the components of aggregate expenditure.
What is the inflation gap? What is the output gap?
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