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Essentials of Economics 8th Edition by Bradley Schiller
Edition 8ISBN: 978-0073511399Essentials of Economics 8th Edition by Bradley Schiller
Edition 8ISBN: 978-0073511399 Exercise 7
If taxes were cut by $1 trillion and the MPC was 0.80, by how much would total spending
( a ) Increase in the first year with two spending cycles?
( b ) Increase over five years, with two spending cycles per year?
( c ) Increase over an infinite time period?
( a ) Increase in the first year with two spending cycles?
( b ) Increase over five years, with two spending cycles per year?
( c ) Increase over an infinite time period?
Explanation
Verified
Verified
(a) If the MPC = 0.80, and taxes are cut...
Essentials of Economics 8th Edition by Bradley Schiller
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