Question: Please Answer all 3 and PLEASE be correct thanks!!!:))) 14. Suppose the MPC is 0.90. If the government wishes to increase aggregate demand (total spending)

Please Answer all 3 and PLEASE be correct thanks!!!:)))

14. Suppose the MPC is 0.90. If the government wishes to increase aggregate demand (total spending) by $60 billion to eliminate the GDP gap, the government's discretionary spending would need to increase by what amount? Show all work. 15. Refer to the table. Calculate the public (national) debt. Show all work. Government Spending Tax Revenue GDP Year 1 $800 $835 $4,500 b Year 2 850 850 5,000 Year 3 975 910 5.700 16. Refer to the following data. Calculate the budget deficit or surplus for Year 3. Government spending Tax Revenues GDP Year 1 $450 $425 $2,000 b Year 2 500 450 3,000 Year 3 690 650 4,000
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