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1. Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. Hint: (Use Okun's law to calculate
1. Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. Hint: (Use Okun's law to calculate GDP loss). How much money should the government spend to eliminate this GDP loss? Calculate the tax cut needed to eliminate this GDP loss
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The Economy Of Cities
Authors: Jane Jacobs
1st Edition
039470584X, 9780394705842
