Question
In the Keynesian-cross model, if the MPC equals 0.75, then a $5 billion increase in government spending increases the equilibrium level of income by _____
In the Keynesian-cross model, if the MPC equals 0.75, then a $5 billion increase in government spending increases the equilibrium level of income by _____ billion.
Please double check your answer and explain the solution
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Agricultural Economics
Authors: Evan Drummond, John Goodwin
3rd edition
136071929, 978-0136071921
