If equilibrium GDP is $300 billion greater than full employment GDP and there is an inflationary gap of $50 billion, how much is the multiplier?
What will be an ideal response?
300/50 = 6
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During the 1990s, Japan's economy experienced
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The following table provides information about production at the XYZ-TV Company.Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000 How many workers will XYZ-TV Company hire if the going wage for TV production workers is $28,000?
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