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Let real GDP =Y = Yd, and the consumption function is C = $1,000 + .06Y.
What is the value of autonomous consumption (A) and what is the marginal propensity to consume (MPC)?
A) A = $600; MPC = 0.4
B) A = $1,000; MPC = 0.6
C) A = $1,600; MPC = 2.5
D) A = $2,500; MPC = 0.6
In this economy we have an MPC equal to 0.80, Autonomous Consumption of $600 billion, Planned Investment (I) of $1,000 billion, Government Spending (G) of $1,200 billion and Net Taxes (T) of $1,000 billion. If this economy had a full employment level..
In perfect competition if firms produce where P=MC they ensure ________ because the social benefits of production as measured by the price that people are willing to pay, are in balance with the ________ to society of that production.
q.the solow growth model. in 2010 japan was a large open economy with perfect capital mobility that was at its steady
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