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Assume that you have won $2 million in the California lottery. Explain exactly what you would do with this windfall within the next year. Using your...
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<br/> -Assume that you have won $2 million in the California lottery.

Explain exactly what you would do with this windfall within the next year.
-Using your response to the above example:A) What would be your MPC (marginal propensity to consume) and your MPS (marginal propensity to save)? Refer to lecture notes explaining each.
B) Instead of an extra $2 million assume you get an extra $2,000. What would be your MPC and MPS in this case?
C) Explain why there was or was not a change from 'a' to 'b' above.

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