In an economy, planned aggregate expenditure is given by PAE = $500 billion + 0.6Y, where Y is equal to national income. What is the value of: Instructions: For parts a and d, round your answers to the nearest whole number. For parts b and c, round your answers to one decimal place. a. Autonomous expenditure = $ b. Marginal propensity to consume = c. Expenditure multiplier

In an economy, planned aggregate expenditure is given by PAE = $500 billion + 0.6Y, where Y is equal to national income. What is the value of: Instructions: For parts a and d, round your answers to the nearest whole number. For parts b and c, round your answers to one decimal place. a. Autonomous expenditure = $ b. Marginal propensity to consume = c. Expenditure multiplier

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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