If the consumption function is C = $400 billion + 0.8Y, (a) What is the MPC? (b)
Question:
If the consumption function is C = $400 billion + 0.8Y,
(a) What is the MPC?
(b) How large is autonomous C?
(c) How much do consumers spend with incomes of $4 trillion?
(d) How much do they save?
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a 08 b 400 billion c 36 trillion or 3600 billion d 40...View the full answer
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Related Book For
The Macro Economy Today
ISBN: 978-1259291821
14th edition
Authors: Bradley R. Schiller, Karen Gebhardt
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