C = 3,600 + (MPC)Y

question 55

Essay

C = 3,600 + (MPC)Y
I = 1,200
G = 1,400
NX = -200
If the equilibrium level of GDP is $30,000,using the equations for C,I,G,and NX shown above,find the value of the marginal propensity to consume.

---

Definitions:

Efficient Use

The practice of using resources in a way that maximizes productivity or results while minimizing waste or expense.

Manager's Time

The allocation, management, and prioritization of time by someone in a managerial position, crucial for effective leadership, decision-making, and organizational productivity.

Power Sharing

The distribution of authority and decision-making abilities among multiple members of an organization or group to foster inclusion and diversity of thought.

Joint Decision Making

The process by which two or more parties collaborate and share insights to come to a mutually agreed-upon decision.