If MPC in an economy is 0.73 and consumption spending increases by $1,172, what will overall GDP increase by? Please round to two decimal places where needed and do not include a dollar sign ($) in your answer.

If MPC in an economy is 0.73 and consumption spending increases by $1,172, what will overall GDP increase by? Please round to two decimal places where needed and do not include a dollar sign ($) in your answer.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section7.2: The Expenditure Approach To Computing Gdp For A Real World Economy

Problem 2ST

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Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

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If MPC in an economy is 0.73 and consumption spending increases by $1,172,
what will overall GDP increase by? Please round to two decimal places where
needed and do not include a dollar sign ($) in your answer.

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