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Assuming the level of investment is $12 billion and independent of the level of total output, complete the following table and determine the equilibrium levels
Assuming the level of investment is $12 billion and independent of the level of total output, complete the following table and determine the equilibrium levels of output and employment in this private closed economy. Instructions: In the table below, enter your answers in the gray shaded cells as whole numbers.
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a. Equilibrium GDP = $ billion. Equilibrium level of employment = million. b. What are the sizes of the MPC and MPS? Instructions: Round your answers to 1 decimal place. MPC = . MPS = .
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