Question: Consider a simple macro model with a constant price level and demand-determined output. The equations of the model are: C =150+0.71 Y , I =300,

Consider a simple macro model with a constant price level and demand-determined output. The equations of the model are:

C=150+0.71Y,

I=300,

G=700,

T=0,

X=120,

IM=0.06Y.

The marginal propensity to spend on national income,

z,

is ________.

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