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Using the Keynesian model: (Total points = 10%). Do the following: Write the formula for Total Expenditures (TE). Identify the autonomous expenditures. Identify which part

Using the Keynesian model: (Total points = 10%).

Do the following:

Write the formula for Total Expenditures (TE).

Identify the autonomous expenditures.

Identify which part of total expenditures is induced by RGDP?

Explain: What marginal propensity to consume (mpc) is?

If we have the graph of Total expenditures, how we could calculate the value of marginal propensity to consume (mpc)?

Explain how starting with the consumption function (C = Co + mpc x RGDP) Keynes obtained the Total Expenditures (TE) curve

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