Find total change in rgdp if government spending increases, Microeconomics

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Find total change in rgdp if government spending increases

1. What is the total change in RGDP if government spending increases by $700 million and the marginal propensity to consume (MPC) is 0.55? Show your work.

2. How much should the government change spending in order to close a $635 million inflationary gap if the MPC is 0.70? Should it increase or decrease spending? How much should it change taxes? Increase or decrease taxes?

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Microeconomics: Find total change in rgdp if government spending increases

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Microeconomics: Find total change in rgdp if government spending increases

Reference No:- TGS0524430

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Importance of cash management

Q : Thermodynamics related problem

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Q : Include information gleaned from the newspaper

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Ask an Expert for Answer!!

Microeconomics: Find total change in rgdp if government spending increases

Reference No:- TGS0524430

Recent Questions Asked Microeconomics

Q : Importance of cash management

Q : Thermodynamics related problem

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Q : Find total change in rgdp if government spending increases

Q : Different lengths-producing different notes

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