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Answer parts (a)-(e)below based on the AE equation AE = 2,500 + 0.9Y.
(a)What is the level of autonomous expenditures?
(b)If income is 1,000 what is the level of induced expenditures?
(c)What is the mpe?
(d)What is the value of the multiplier?
(e)What is the level of equilibrium income?
Parsimonious
Describing an approach that is simple or economical in nature, often used in scientific theories that prefer the simplest explanation.
Statistically Significant
A result or effect size in an experiment or study that is unlikely to have occurred by chance, indicating a meaningful difference or relationship.
Replicable
Describes a study or experiment whose results can be achieved again when the study is repeated under the same conditions.
Replicable
Capable of being repeated or duplicated under similar conditions to achieve a similar result.
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