Question
Hello, I'm stuck on question 1 where I need to calculate GDP. I'm unsure what the marginal propensity refers to in the context of the
Hello,
I'm stuck on question 1 where I need to calculate GDP. I'm unsure what the marginal propensity refers to in the context of the question. Could you please help me understand what numbers to plug into the GDP formula? Also, which GDP formula should I use? GDP = Total National Income + Sales Taxes + Depreciation + Net Foreign Factor Income or GDP=C + G + I + I-M?
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Macroeconomics
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
1st Edition
978-0132109994, 0132109999
