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(Advanced Analysis)Answer the Question on the Basis of the Following C=26+0.75YIg=60X=24M=10\begin{array} { l } C = 26 + 0.75 Y \\I _ { g } = 60 \\X = 24 \\M = 10\end{array}

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(Advanced analysis) Answer the question on the basis of the following information for a private open economy.The letters Y,C,Ig,X,and M stand for GDP,consumption,gross investment,exports,and imports respectively.Figures are in billions of dollars. C=26+0.75YIg=60X=24M=10\begin{array} { l } C = 26 + 0.75 Y \\I _ { g } = 60 \\X = 24 \\M = 10\end{array} The multiplier for the economy is:

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good or service changes in response to a change in its price.

Federal Gasoline Tax

A tax imposed by the federal government on the sale of gasoline, primarily used to fund transportation projects.

Price Elasticity

A measure of the sensitivity of quantity demanded or supplied to a change in price, indicating how a product's demand or supply reacts to price changes.

Income Elasticity

A measure of how much the demand for a good is affected by changes in consumers' income.

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