Use the table below to answer the following questions. Expenditure $B Consumption 1440 Investment 576 Government 720 Exports 288 Imports 144 Marginal propensity to consume is 0.75, marginal propensity to import is 0.15. The equilibrium real GDP is $ The multiplier is billion. If autonomous consumption increases by $240 billion, the new equilibrium real GDP is $ billion.

Use the table below to answer the following questions. Expenditure $B Consumption 1440 Investment 576 Government 720 Exports 288 Imports 144 Marginal propensity to consume is 0.75, marginal propensity to import is 0.15. The equilibrium real GDP is $ The multiplier is billion. If autonomous consumption increases by $240 billion, the new equilibrium real GDP is $ billion.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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