Question 1 (The Multiplier Model): Below are consumption and disposable income (YD) data. (3 points) Disposable Income (YD) Consumption 2013 $250 000 $180 000 2014 $310 000 $216...
a.jliaQuestion 1 (The Multiplier Model): Below are consumption and disposable income (YD) data. (3 points)
| Disposable Income (YD) | Consumption |
2013 | $250 000 | $180 000 |
2014 | $310 000 | $216 000 |
a. Calculate the marginal propensity to consume (mpc) and then the multiplier in this economy. (2)
b. Using the multiplier you found in part a, calculate the effect of a $6000 increase in investment spending on real GDP. (1)
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