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Estimate GDP in trillions with one decimal point precision Marginal propensity to consume = 0.85 Investment =$5 trillion Government spending except for transfer payment programs
| Marginal propensity to consume = 0.85 |
| Investment =$5 trillion |
| Government spending except for transfer payment programs = $4 trillion |
| Taxes = $5 trillion |
| Exports = $6 trillion |
| Imports = $5 trillion |
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To estimate GDP we can use the following formula GDP Consumption Investme...
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Macroeconomics
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
3rd Canadian edition
1319120083, 1319120085, 1319190111, 9781319190118, 978-1319120054
