Question

In: Economics

Fill in the blanks in the table below. Assume that the MPC is constant over everyone...

Fill in the blanks in the table below. Assume that the MPC is constant over everyone in the economy.

MPC Spending Multiplier Change in Government Spending Change in Income
10 100
2.5 -500
0.5 225
0.2 100

Solutions

Expert Solution

MPC Spending Multiplier Change in Government Spending Change in Income
0.9 10 100 1000
0.6 2.5 -200 -500
0.5 2 225 450
0.2 1.25 80 100

Spending multiplier=1/(1-MPC)

change in income=change in government spending *multiplier

switching the formula as per required object we can get it.

ex.

10=1/(1-MPC)

10-10MPC=1

MPC=9/10=0.9

change in income=100*10=1000

and so on


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