Reference no: EM13206890
aggregate output/income
2000
2500
3000
3500
4000
4500
5000
5500
consumption
2100
2500
2900
3300
3700
4100
4500
4900
planned investment
300
300
300
300
300
300
300
300
a. At each level of output, calculate saving. At each level of output, calculate unplanned investment (inventory change). What is likely to happen to aggregate output if the economy produces at each of the levels indicated? What is the equilibrium level of output?
b. Over each range of income (2,000 to 2,500, 2,500 to 3,000, and so on), calculate the marginal propensity to consume. Calculate the marginal propensity to save. What is the multiplier?
c. By assuming there is no change in the level of the MPC and MPS and planned investment jumps by 200 and is sustained at that higher level, recomputed the table. What is the new equilibrium level of Y? Is this consistent with what you compute using the multiplier?
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