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. If due to extreme pessimism of both firms and households about future current desired investment declines to $15 billion and current desired consumption expenditures

. If due to extreme pessimism of both firms and households about future current desired

investment declines to $15 billion and current desired consumption expenditures changes

to = 15 + 0.4, explain in English how this affects the position of the curves and the

equilibrium national income. Calculate the new equilibrium national income using the

concept of the simple multiplier.

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