Assuming the level of investment is $21 billion and independent of the level of total output, complete the following table and determine the equilibrium levels of output and employment in this private closed economy. What are the sizes of the MPC and MPS? Instructions: In the table below enter whole numbers for your answers. For any negative number be sure to include a negative sign (-) in front of the number. Possible Levels Real of Employment (Millions) Domestic Output (Billions) Consumption (Billions) Saving (Billions) 45 $250 $249 2$ 50 270 265 55 290 281 $ 60 310 297 $ 65 330 313 $ 70 350 329 75 370 345 80 390 361 $ 85 410 377 Equilibrium GDP = $ billion Equilibrium level of employment = million Instructions: Round your answer to one decimal place. MPC = MPS =

Assuming the level of investment is $21 billion and independent of the level of total output, complete the following table and determine the equilibrium levels of output and employment in this private closed economy. What are the sizes of the MPC and MPS? Instructions: In the table below enter whole numbers for your answers. For any negative number be sure to include a negative sign (-) in front of the number. Possible Levels Real of Employment (Millions) Domestic Output (Billions) Consumption (Billions) Saving (Billions) 45 $250 $249 2$ 50 270 265 55 290 281 $ 60 310 297 $ 65 330 313 $ 70 350 329 75 370 345 80 390 361 $ 85 410 377 Equilibrium GDP = $ billion Equilibrium level of employment = million Instructions: Round your answer to one decimal place. MPC = MPS =

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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