Question: Answer entire question seen belowFirst blank:1/3; 3; 2/32nd blank: larger and smaller 4. Problems and Applications Q7 Suppose economists observe that an increase in government

Answer entire question seen belowFirst blank:1/3; 3; 2/32nd blank: larger and smaller

smaller 4. Problems and Applications Q7 Suppose economists observe that an increase

4. Problems and Applications Q7 Suppose economists observe that an increase in government spending of $14 billion raises the total demand for goods and services by $42 billion. If these economists ignore the possibility of crowding out, they would estimate the marginal propensity to consume (MPC) to be Now suppose the economists allow for crowding out. Their new estimate of the MPC would be V than their initial one

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