Solved: How response of current aggregate output depends propensity, Macroeconomics

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How response of current aggregate output depends propensity

Problem

There is a temporary increase in the relative price of energy. Determine how the response of current aggregate output to this shock depends on the marginal propensity to consume, and explain carefully why you get this result.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: How response of current aggregate output depends propensity

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