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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 13
Suppose you are an economic adviser to the president and the economy needs a real GDP increase of $500 billion to reach full-employment equilibrium. If the marginal propensity to consume (MPC) is 0.75 and you are a Keynesian, by how much do you believe Congress must increase government spending to restore the economy to full employment?
Explanation
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To meet the aggregate demand, we need to...
Economics for Today 9th Edition by Irvin Tucker
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