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Scilla [17]
3 years ago
6

If the mpc is 0.70 and investment increases by $3 billion, the equilibrium gdp will

Business
1 answer:
Alina [70]3 years ago
7 0
<span>If the MPC is 0.70 and investment increases by $3 billion, the equilibrium GDP will increase by $10 billion. 

The GDP is the Gross Domestic Product and the MPC is the marginal propensity to consume. The MPC tracks that a raise in pay will increase consumers spending on goods and services. If there is an increase in spending budget, then the GDP will increase because of more spending power.
</span>
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