Suppose that a certain country has an MPC of .9 and a real GDP of $400 billion.
Question:
Suppose that a certain country has an MPC of .9 and a real GDP of $400 billion. If its investment spending decreases by $4 billion, what will be its new level of real GDP?
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The multiplier is 10 o...View the full answer
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Related Book For 
Economics
ISBN: 978-0073375694
18th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn
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