Posted: October 19th, 2022

Macro

Supposed you are an economist in the Council of Economic Advisers. You believe the current unemployment rate in the US is too high. And the unemployment rate can be lower if national output (GDP) increases. You want to know what policy to pursue to increase aggregate output by $600 billion. If you have the value of marginal propensity to consume (MPC) is 0.75. Please finish the following questions and provide your policy recommendations.

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(1) What is the value of government purchase (spending) multiplier

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