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December 19, 2014

Homework Help: economics

Posted by Tina on Saturday, July 9, 2011 at 11:21am.

At an initial point on the aggregate demand curve, the price level is 100, and real to GDP is $15trillion. After the price level rises to 110, however, there is an upward movement along the aggregate demand curve, and real GDP declines to $14 trillion. If total autonomous spending declined by $200 billions in sponse to the price level, what is the marginal propensity to consume in this economy?

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