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Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 25
The equilibrium level of real GDP is $1,000 billion, the full-employment level of real GDP is $1,250 billion, and the marginal propensity to consume (MPC) is 0.60. The full-employment target can be reached if government spending is increased by
A) $60 billion.
B) $100 billion.
C) $250 billion.
D) held constant.
A) $60 billion.
B) $100 billion.
C) $250 billion.
D) held constant.
Explanation
Verified
Verified
Equilibrium level of real GDP = $1,000 b...
Economics for Today 9th Edition by Irvin Tucker
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