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Assign the correct label to each of the following points ( do not abbreviate your answer ) .............................. (2 marks) ........................ (2 marks) ........................ (2
- Assign the correct label to each of the following points (do not abbreviate your answer)
- .............................. (2 marks)
- ........................ (2 marks)
- ........................ (2 marks)
- .......................... (2 marks)
- State and define the economic situation being demonstrated in the graph above?
(3 marks)
- State and explain two (2) approaches that can be used by policymakers to correct the above economic situation above.(4marks)
- Given the Marginal Propensity to Consume (MPC) is equal to 0.8, calculate the dollar ($) value of the expenditure needed to "correct" the economic situation above.(5 marks)
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