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a)Explain the first three steps that will occur if spending is greater than production by 3.0. Be as specific as possible (assume the MPC is
a)Explain the first three steps that will occur if spending is greater than production by 3.0. Be as specific as possible (assume the MPC is .9)
b)Explain the first three steps that will occur if spending less than production by 5.0. Be as specific as possible (assume the MPC is .85).
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