Machu pich, Cuzco, Chan Chan, Lake titicaca
International Monetary Fund (IMF)-an organization of 189 countries, that work to foster global monetary cooperation, facilitate international trade, secure financial stability and reduce poverty around the world
The World trade organization (WTO)-is the only global international organization dealing with the rules of trade between nations
Answer and Explanation:
Given equation C = $600 billion +0.9Y
Where c = total consumer spending
$600 billion = consumer autonomous spendinf
0.9= marginal propensity to consume(mpc)
Y= income of consumers
A. Marginal propensity to consume(MPC)= 0.9 from equation given
B. Autonomous spending which is spending that is constant =$600 billion from equation given
C. Using equation of consumer spending above, C= $600 billion+0.9Y
With $4200 billion in income, consumers spending =$600 billion+0.9*$4200 billion
=$4380 billion
D. Savings= consumers income-consumers spending= $4200 billion-$4380 billion= -$180 billion
Therefore there was a deficit not saving
