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Consider the simplest macro model with demand-determined output
Consider the simplest macro model with demand-determined output. The equations are:
C = 150 + 0.8Yd, Yd = Y-T,
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Consider the simplest macro model with demand-determined output
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I = 400, G = 700,
T = .2Y, X = 130, and
IM = 0.14Y.
- What is the Marginal Propensity to Consume (MPC) in this model?