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Example: Open Economy Income Determination. C=50+.8Y I=40 G=10 Exports=30 Imports=0.2Y What is MPC? What is the MPS? What is the MPm? What is the open

Example: Open Economy Income Determination.

C=50+.8Y

I=40

G=10

Exports=30

Imports=0.2Y

  1. What is MPC?
  2. What is the MPS?
  3. What is the MPm?
  4. What is the open economy multiplier?
  5. What is the equilibrium income in this economy?
  6. How much is import of this economy?

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