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Author Question: Table 12-14 Refer to Table 12-14.Using the table above, answer the following questions. The numbers ... (Read 137 times)

deesands

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Question 1

Table 12-13









Refer to Table 12-13.  Using the table above, answer the following questions. The numbers in the table are in billions of dollars.

a. What is the equilibrium level of real GDP?

b. What is the MPC?

c. If investment spending declines by $50 billion, what will happen to equilibrium GDP?



Question 2

Table 12-14









Refer to Table 12-14.  Using the table above, answer the following questions. The numbers in the table are in billions of dollars.

a. What is the equilibrium level of real GDP?

b. What is the MPC?

c. If potential GDP is $4,000 billion, is the economy at full employment? If not, what is the condition of the economy?

d. If the economy is not at full employment, by how much should government spending increase so that the economy can move to the full employment level of GDP?



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Marked as best answer by deesands on Mar 16, 2019

tandmlomax84

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