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Where marginal propensity to consume is denoted as MPC, consider the following:
a. Assuming no crowding-out and MPC = 0.75, calculate the amount of government spending needed to bring this economy back to full-employment output.
b. Assuming no crowding-out and that $10 billion would be needed to bring this economy back to full-employment output, calculate the MPC in this economy.
Union Services
Services provided by labor unions to their members, such as collective bargaining, legal representation, and negotiation of wages and working conditions.
Unionized Facility
A workplace where a labor union represents the interests of the employees and engages in collective bargaining with management for contracts covering wages, benefits, and working conditions.
Union Representation
The act of a union serving as the official body that negotiates and interacts with employers on behalf of its members.
National Labor Relations Act
A foundational US law enacted in 1935 that protects the rights of employees to organize, bargain collectively, and engage in other union activities.
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