6) In order to be ranked as one of the top ten fastest growing states in the country, Montana needed to achieve GDP growth of 5% in 2021. Montana's Treasury department informed the Governor that the state is currently on track for 3% growth, and as a result, GDP will have to expand by an additional $1 million for the state to rank in the top ten. The governor does not believe the state legislature will approve a $1 million spending package, so she is convinced there is no chance Montana will make the top ten, particularly since she just received a report that Montanans tend to save 40% of any additional income they receive. If you were advising the Governor, what you tell her about her predicament? Based on this, please indicate the dollar amount of the spending package she should request from her legislature.

6) In order to be ranked as one of the top ten fastest growing states in the country, Montana needed to achieve GDP growth of 5% in 2021. Montana's Treasury department informed the Governor that the state is currently on track for 3% growth, and as a result, GDP will have to expand by an additional $1 million for the state to rank in the top ten. The governor does not believe the state legislature will approve a $1 million spending package, so she is convinced there is no chance Montana will make the top ten, particularly since she just received a report that Montanans tend to save 40% of any additional income they receive. If you were advising the Governor, what you tell her about her predicament? Based on this, please indicate the dollar amount of the spending package she should request from her legislature.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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