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6.' Calculate the GDP loss if the actual GDP produced in 2018 was $ 8200b with the unemployment rate of 7.8%. Assume MPC = .75.
6.' Calculate the GDP loss if the actual GDP produced in 2018 was $ 8200b with the unemployment rate of 7.8%. Assume MPC = .75. Calculate the amount of government expenditure I and tax cut needed to maintain full employment. 7. Suppose the fed were to sell off $500 worth of used ofce furniture to private citizens. Explain why the money supply and bank reserves would decrease
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