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Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
Edition 6ISBN: 978-1111822354Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
Edition 6ISBN: 978-1111822354 Exercise 1
a. What is the marginal propensity to consume implicit in these data?
b. Plot a 45° line, and then use the data to draw an aggregate expenditure line.
c. What is the equilibrium level of real GDP? Illustrate it on your diagram.
d. Suppose that investment spending increased by 250 at each level of income. What would happen to equilibrium GDP?
Explanation
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a. Marginal propensity to consume is the...
Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
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