Suppose a households annual take-home pay in 1951 was 8320., Ask an Expert

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Q. The CPI (using a 1982 base year) for 1951 is 26.0. Suppose a household's annual take-home pay in 1951 was $8,320. Elucidate what would be an equivalent home pay in 1982?

Q. Consider an economy that is operating at the full-employment level of real (GDP). Assuming the (MPC) is 0.90; predict the effect on the economy of a $50 billion increase in government spending balanced by a $50 billion increase in taxes.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9225311

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