Question

Questions 12 – 14. Assuming the level of investment is $12 billion and independent of the level of total output, complete the following table and determine the equilibrium levels of output and employment in this private closed economy.

Levels of Employment (Millions)	GDP = DI (Billions)	Consumption (Billions)	Savings (Billions)
60	$330	$390
65	$360	$402
70	$390	$414
75	$420	$426
80	$450	$438
85	$480	$450
90	$510	$462
95	$540	$474
100	$570	$486

What is the size of the MPC?

0.30

0.60

0.40

0.50

What is the size of the MPS?

0.60

0.30

0.40

0.50

What is savings at the 95 million level of employment?

$30 billion

$54 billion

$12 billion

$66 billion

Answer 1

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