For each of the three income levels shown, pro vide appropriate data to satisfy or be consistent with the absolute and relative income hypotheses.
Answer to relevant QuestionsCalculate the 2010 and 2011 MPCs for each of the countries. What happens to the level of national income when intended investment is greater than actual investment? Fill in the missing cells for C, S, and I a in the following table, given that autonomous consumption = $100, MPC = 0.50, and intended investment = $200. Indicate whether the economy is in equilibrium. Who are discouraged workers? Underemployed workers? Are they counted as part of the labor force? As part of the unemployed? How does the BLS determine who is unemployed? Calculate the following rates of unemployment and size of the labor force from the following data: frictional unemployment = 20; structural = 30; cyclical = 40; discouraged workers = 10; under employed = 25; employed workers ...
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