In a basic keynesian macroeconomic model it is assumed that y = c + I where I = 820 and c = 60 + 0.8

In a basic Keynesian macroeconomic model it is assumed that Y = C + I where
I = 820 and C = 60 + 0.8Y.
a.What is the marginal propensity to consume?
b.What is the equilibrium level of Y?
c.What is the value of the multiplier?
d.What increase in I is required to increase Y to 5,000?
If this increase takes place will savings (Y − C) still equal I
Asked Jun 02, 2017

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Answered Jun 02, 2017

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