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Assuming the level of investment is $16 billion and independent of the level of total output, complete the accompanying table and determine the equilibrium levels of output and employment in this

Assuming the level of investment is $16 billion and independent of the level of total output, complete the accompanying table and determine the equilibrium levels of output and employment in this private closed economy. What are the sizes of the MPC and MPS?

Possible Levels of Employment, Millions

Real Domestic Output (GDP = DI), Billions

 

Consumption, Billions

 

Saving, Billions

 

40

$240

$244

$ _____

45

260

260

_____

50

280

276

_____

55

300

292

_____

60

320

308

_____

65

340

324

_____

70

360

340

_____

75

380

356

_____

80

400

372

_____

Apr 30 2020 View more View Less

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