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QUESTION
An economy has neither imports nor income taxes. The MPC is 0.75 and real GDP is $120 billion. The government increases expenditures by $4 billion.
An economy has neither imports nor income taxes. The MPC is 0.75 and real GDP is $120 billion. The government increases expenditures by $4 billion. The multiplier is ____ and the change in real GDP from the increase in government expenditures is ____ billion.
