Estimate GDP in trillions with one decimal point precision Marginal propensity to consume = 0.85 Investment =$5

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Estimate GDP in trillions with one decimal point precision

Marginal propensity to consume = 0.85

Investment =$5 trillion

Government spending except for transfer payment programs = $4 trillion

Taxes = $5 trillion

Exports = $6 trillion

Imports = $5 trillion

Related Book For answer-question

Macroeconomics

ISBN: 978-1319120054

3rd Canadian edition

Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson

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Posted Date: Feb 01, 2024 06:49 AM

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Estimate GDP in trillions with one decimal point precision Marginal propensity to consume = 0.85 Investment =$5

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To estimate GDP we can use the following formula GDP Consumption Investme... View the full answer

Macroeconomics

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