Refer to the following table to answer the questions. 
(a) Assuming that investment, net exports, government expenditures, and taxes do not change with changes in real GDP, what are the sizes of the MPC, the MPS, and the multiplier?
(b) If full employment in this economy is 65 million, will there be an inflationary or recessionary gap? What will be the consequence of this gap? By how much would aggregate expenditures in column 3 have to change at each level of GDP to eliminate the inflationary or recessionary gap? Explain.(c) Will there be an inflationary or recessionary gap if the full-employment level of output is $250 billion? Explain the consequences.By how much would aggregate expenditures in column 3 have to change at each level of GDP to eliminate the inflationary or recessionary gap? Explain.
Definitions:
Q13: What are the economic and non-economic costs
Q22: According to new Stanford research on intergenerational
Q24: Economist Jones defines an increase in supply
Q25: Suppose an economic advisor to the Prime
Q26: Why is GDP a monetary measure?
Q27: If the production possibilities curve were a
Q31: Why do economists measure growth in an
Q34: According to your textbook authors, Britain's decision
Q49: The value of the vertical intercept is
Q58: After Jamaica gained independence from its colonial