1. According to the Keynesian cross model, if the marginal propensity to consume is 2/3, an increase...

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1. According to the Keynesian cross model, if the marginal propensity to consume is 2/3, an increase in government purchases of $120 billion increases equilibrium income by billion.

a. $160

b. $180

c. $240

d. $360

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Macroeconomics

ISBN: 9781319263904

11th Edition

Authors: N. Gregory Mankiw

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Question Posted: Sep 30, 2024 08:00 AM

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1. According to the Keynesian cross model, if the marginal propensity to consume is 2/3, an increase...

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Macroeconomics

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