You are given the following data about an economy that has a fixed price level, no imports,

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You are given the following data about an economy that has a fixed price level, no imports, and no taxes.

Calculate the marginal propensity to consume.

The marginal propensity to consume.

Answer to two decimal places. Calculate autonomous consumption expenditure. Autonomous consumption expenditure is $ billion.

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Global Investments

ISBN: 978-0321527707

6th edition

Authors: Bruno Solnik, Dennis McLeavey

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Posted Date: Aug 30, 2019 10:15 AM

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You are given the following data about an economy that has a fixed price level, no imports,

Question:

Disposable income Consumption expenditure (billions of dollars per year) 0 5 80 155 230 305 100 200 300 400 Disposable income Consumption expenditure (billions of dollars per year) 0 5 80 155 230 305 100 200 300 400

Expert Answer:

MPC change in consumptionchange ... View the full answer

Global Investments

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