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3. Over the next 100 years, real GDP per capita in Groland is expected to grow at an average annual rate of 2.0%. In Sloland,

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3. Over the next 100 years, real GDP per capita in Groland is expected to grow at an average annual rate of 2.0%. In Sloland, however, growth is expected to be somewhat slower, at an average annual growth rate of 1.5%. If both countries have a real GDP per capita today of $20,000, how will their real GDP per capita differ in 100 years? 4. Economists observed the only five residents of a very small economy and estimated each one's consumer spending at various levels of current disposable income. The accompanying table shows each resident's consumer spending at three income levels. Individual Individual consumer current spending by disposable income $0 $20,000 $40,000 Andre $1,000 $15,000 $29,000 Barbara 2,500 12,500 22,500 Casey 2,000 20,000 38,000 Declan 5,000 17,000 29,000 Elena 4,000 19,000 34.000 a. What is each resident's consumption function? What is the marginal propensity to consume for each resident? b. What is the economy's aggregate consumption function? What is the marginal propensity to consume for the economy

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