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The economy is in equilibrium, TP = TE, and Real GDP is $4,000 billion. The MPC is 0.55, the multiplier is operative, and idle resources
The economy is in equilibrium, TP = TE, and Real GDP is $4,000 billion. The MPC is 0.55, the multiplier is operative, and idle resources exist at each expenditure round. Autonomous investment spending falls by $11.76 billion. As a result, the TE curve shifts __________ and Real GDP __________ by __________.
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