please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly Given these equations,C=210+b Yd,1=460,G=270-0.1Y,X = 530,M = 485, andT = 13+0.2YIf the multiplier on Investment is 2.427, what is b?

investment multiplier = 1 / (1 - MPC), accurately relates the investment multiplier to the Marginal…

Answered: Given these equations, C=210+b Yd,…

Given these equations, C=210+b Yd, 1=460, G=270-0.1Y, X = 530, M = 485, and T = 13+0.2Y If the multiplier on Investment is 2.427, what is b?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter10: Keynesian Macroeconomics And Economic Instability: A Critique Of The Self Regulating Economy

Section10.2: The Simple Keynesian Model

Problem 2ST

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please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly

Given these equations,
C=210+b Yd,
1=460,
G=270-0.1Y,
X = 530,
M = 485, and
T = 13+0.2Y
If the multiplier on Investment is 2.427, what is b?

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