Keynesian Economics: Suppose the following about the economy of the United States: Government spending = 660, planned investment (Ip) = 215, autonomous consumption is 200, net exports is 100 and taxes are 100. In addition, for each additional $1 of income consumers increase their consumption by $0.75 (MPC). Please answer the following questions.
1)What is the value of the multiplier?
2)What is the value of autonomous spending?
3)What is the equilibrium GDP?