Consider a hypothetical closed economy in which households spend $0.60 of each additional dollar they earn and save the remaining $0.40.the marginal propensity to consume (mpc) for this economy is and the spending multiplier for this economy is

Marginal propensity to consume = $0.60

              Spending multiplier = $2.5

Explanation: The MPC can be calculated using following equation :-

               = 0.60

Similarly, we can calculate spending multiplier as :-

                                            = $2.5

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