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Problem 11-04 (algo) uppose that a certain country has an MPC of 0.8 and a real GDP of $500 billion. If its investment spending decreases by $12 billion, what will be its new level of real GDP? nstructions: Enter your answer as a whole number. 560 8 billion

Problem 11-04 (algo) uppose that a certain country has an MPC of 0.8 and a real GDP of $500 billion. If its investment spending decreases by $12 billion, what will be its new level of real GDP? nstructions: Enter your answer as a whole number. 560 8 billion

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Problem 11-04 (algo) Suppose that a certain country has an MPC of 0.8 and a real GDP of $500 billion. If its investment spending decreases by $12 billion, what will be its new level of real GDP? Instructions: Enter your answer as a whole number. 560 * billion %24
Transcribed Image Text:Problem 11-04 (algo) Suppose that a certain country has an MPC of 0.8 and a real GDP of $500 billion. If its investment spending decreases by $12 billion, what will be its new level of real GDP? Instructions: Enter your answer as a whole number. 560 * billion %24
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