Lab 3 (Question 2) _ Lyryx Learning Inc.pdf - 2/3/2021 Lab...

2/3/2021 Lab 3 (Question 2) ~ Lyryx Learning Inc
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Lab 3 (Question 2)
Name: Dennis Emond
Date: 2021-02-03 13:34
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Question 2 [16 points]
Research by a team of expert economists has uncovered the consumption and import functions and produced a
forecast of planned investment and exports for the economy of Happydale as reported below:
a) What equilibrium real GDP would Happydale produce?
b) What are the marginal propensities to consume and import in Happydale.
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c) What is the size of the multiplier?