6. Sketch the Keynesian cross diagram. Explain in words the economic significance of the two lines graphed

Question:

6. Sketch the Keynesian cross diagram. Explain in words the economic significance of the two lines graphed in the diagram. Given only this diagram, how could you determine exogenous expenditure, induced expenditure, the marginal propensity of expenditure and short-run equilibrium output? LO 7.4 MEDIUM

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