Equations for C, I, G, and NX are given below. If the equilibrium level of GDP is $32,000, what is the marginal propensity to consume?
C = 5,000 + (MPC)Y
I = 1,500
G = 2,000
NX = -500
A) 0.67 B) 0.75 C) 0.8 D) 0.9
B
Economics
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The table above has the domestic demand and domestic supply schedules for a good. If the world price of the good is $10 and international trade occurs, then according to the table
A) domestic production is higher before trade than after trade. B) the country imports 16 units a day. C) the country imports 6 units a day. D) the country exports 6 units a day. E) the country exports 22 units a day.
Economics
A real shock is shown in the AD/AS model as:
A. a shift in the AD curve only. B. a shift in the LRAS curve only. C. a shift in the LRAS, SRAS, and AD curves. D. a shift in both the LRAS and SRAS curves.
Economics