Suppose that the level of gdp increased by $100 billion in a private closed economy where the marginal propensity to consume is 0.5. aggregate expenditures must have increased by

Aggregate expenditure must have increased by $50 billion

Explanation:

We have given level of GDP is increased by $100 billion

Marginal prosperity MPS = 0.5

So multiplier

We have to find the aggregate expenditure change

Aggregate expenditure change is given by  

So aggregate expenditure must have increased by $50 billion

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