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7nadin3 [17]
2 years ago
15

During a pandemic, an economy goes into a recession due to a decrease in aggregate demand. Assume the government creates a progr

am to help stabilize the economy by increasing expenditures by $700 billion. How much spending would occur during the third round of spending if the marginal propensity to consume (MPC) was 0.6 in the economy
Business
1 answer:
den301095 [7]2 years ago
7 0

The spending that would occur during the third round of spending if the marginal propensity to consume (MPC) was 0.6 will be $420 billion.

  • Increase in expenditure = $700 billion.
  • Marginal propensity to consume = 0.6

The amount of spending based on the information given will be:

= 0.6 × $700 billion

= $420 billion.

Therefore, the correct option is $420 billion.

Read related link on:

brainly.com/question/17012549

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