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Macroeconomics 13th Edition by William Baumol ,Alan Blinder
Edition 13ISBN: 978-1305280601Macroeconomics 13th Edition by William Baumol ,Alan Blinder
Edition 13ISBN: 978-1305280601 Exercise 12
Consider an economy in which tax collections are always $400 and in which the four components of aggregate demand are as follows:
Find the equilibrium of this economy graphically. What is the marginal propensity to consume What is the multiplier What would happen to equilibrium GDP if government purchases were reduced by $60 and the price level remained unchanged
Find the equilibrium of this economy graphically. What is the marginal propensity to consume What is the multiplier What would happen to equilibrium GDP if government purchases were reduced by $60 and the price level remained unchanged
Explanation
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In Table (2), the GDP of an economy equa...
Macroeconomics 13th Edition by William Baumol ,Alan Blinder
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