The hand written solution is not allowed please 22. If the spending multiplier is 1.3 and consumer spending increases by $1 billion, how muchdoes overall spending go up (including the initial billion)?Cons Spending$50,000$40,000$30,000$20,000$50,000Disposable Income

The spending multiplier tells how much the overall spending of final goods and services will rise in…

Answered: 22. If the spending multiplier is 1.3…

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter11: Fiscal Policy

Section: Chapter Questions

Problem 1.6P

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1. Complete this chart. ***Remember, you are looking at the change in income and spending. ( Income $20,000 $40,000 $60,000 $80,000 Expenditures MPC N/A $11,000 $25,000 $35,000 $41,000 MPS N/A
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Which of the following will raise consumer expenditures, C? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a b с d a general increase in housing prices. an increase in interest rates. an increase in expected future income. an increase in the price level.
During 2019, a country reported that its real GDP increased by $3.0 billion. The multiplier for this economy is known to be equal to 10.Which of the following might have caused the increase in real GDP? Question 12Answer a. Exports increased by $0.3 billion. b. Investment decreased by $0.3 billion. c. Exports decreased by $0.3 billion. d. Imports increased by $0.3 billion. e. Government expenditure on goods and services increased by $3 billion.
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4. If you save $20 when you experience a $200 rise in your income:(A) your marginal propensity to save is 0.2. (B) your marginal propensity to consume is 0.9.(C) your marginal propensity to consume is 0.1.(D) your marginal propensity to consume is 0.8.
Explain the concept of the 100X Multiplier using the idea of diminishing marginal utility.
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22. If the spending multiplier is 1.3 and consumer spending increases by $1 billion, how much does overall spending go up (including the initial billion)? Cons Spending $50,000 $40,000 $30,000 $20,000 $50,000 Disposable Income