Answered: Suppose the potential output is 50…

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Economics

Suppose the potential output is 50 trillion and autonomous spending is 10 trillion. Compute the mpc. 0.8

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

How do I figure this out???

Expert Solution

Step 1

MPC is the marginal propensity to consume.

M)C is calculated as the change in consumption divided by the change in income.

So,

MPC = ∆C/∆Y

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