Question
Currently the economy is producing real GDP (output) of $1.2 Trillion ($1,200,000,000,000). Economists estimate that the full employment real GDP (output) is actually $1.5 Trillion
Currently the economy is producing real GDP (output) of $1.2 Trillion ($1,200,000,000,000). Economists estimate that the full employment real GDP (output) is actually $1.5 Trillion ($1,500,000,000,000). The marginal propensity to save (mps) is 25%. The government currently has a balanced budget. what is the wage gap? what is the Marginal Propensity Consumed?
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Managerial Economics and Business Strategy
Authors: Michael R. baye
7th Edition
978-0073375960, 71267441, 73375969, 978-0071267441
