Question

Questions 12 – 14. Assuming the level of investment is $12 billion and independent of the...

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

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Answer #1

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