Answered: When real GDP increases from $20,000 to…

Name: The tax rate is 0.4. The marginal propensity to import is 0.5 .When re
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Description: The tax rate is 0.4. The marginal propensity to import is 0.5 .When real GDP increases from $20,000 to $20,198, consumption increases from $18,000 to $18,050. What is the marginal propensity to consume?

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Economics

When real GDP increases from $20,000 to $20,198, consumption increases from $18,000 to $18,050. What is the marginal propensity to consume?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter23: The Aggregate Expenditure Model

Section: Chapter Questions

Problem 6P

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