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Question 1: Below are consumption and disposable income (YD) data.
Disposable Income (YD)
Consumption
2013
$250 000
$180 000
2014
$310 000
$216 000
a. Calculate the marginal propensity to consume (mpc) and then the multiplier in this economy.
b. Using the multiplier you found in part a, calculate the effect of a $6000 increase in investment spending on real GDP.
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