a. Assuming the level of investment is $15 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. Instructions: In the table below, enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Possible Levels of Employment, Millions 35 40 45 50 55 60 65 70 75 Equilibrium GDP = $ Equilibrium level of employment = Real Domestic Output Consumption, Billions Saving, Billions (GDP = DI), Billions $230 250 270 290 310 330 350 370 390 MPC = MPS = billion b. What are the values of the MPC and MPS? million $239 255 Instructions: In part b, enter your answers rounded to 1 decimal place. 271 287 303 319 335 351 367

a. Assuming the level of investment is $15 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. Instructions: In the table below, enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Possible Levels of Employment, Millions 35 40 45 50 55 60 65 70 75 Equilibrium GDP = $ Equilibrium level of employment = Real Domestic Output Consumption, Billions Saving, Billions (GDP = DI), Billions $230 250 270 290 310 330 350 370 390 MPC = MPS = billion b. What are the values of the MPC and MPS? million $239 255 Instructions: In part b, enter your answers rounded to 1 decimal place. 271 287 303 319 335 351 367

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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