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Suppose the value of the marginal propensity to consume (MPC) in a closed economy is 0.75, autonomous consumption is £300 and national output is 1500. If the tax rate is 8%, what is the level of consumption in the economy?
Event Property
A property in programming that provides a way to respond to specific events that occur within an application, such as clicks or key presses.
On Click
Refers to an event triggered in software or a webpage by pressing and releasing a mouse or similar device on a specific interface element.
Conditional Expression
An expression in programming that will evaluate to true or false, often used to control the flow of execution in software.
Bang Notation
A programming syntax used in some languages like Visual Basic to access properties, methods, or objects, typically represented by an exclamation mark (!).
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