Calculate the resulting change in GDP for each of the following MPCs when the government...
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Accounting
Calculate the resulting change in GDP for each of the following MPCs when the government decreases taxes by $350 billion (change in taxes equals -$350 billion) Instructions: Round your answers to one decimal place. a. The marginal propensity to consume (MPC) 0.2. The change in GDP is s billion b. The marginal propensity to consume (MPC) 0.5 The change in GDP is $ billion c. The marginal propensity to consume (MPC) 0.8. The change in GDP is $ billion
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