Consider the following model of the economy:C = 50 + 0.60 (Y T)I = 380G = 400T
Consider the following model of the economy:C = 50 + 0.60 (Y T)I = 380G = 400T
Consider the following model of the economy:C = 50 + 0.60 (Y T)I = 380G = 400T = 0.20YY = C + I + Ga. What is the value of the MPC in this model?b. Compute the equilibrium level of income
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