ECO 200 Lecture Notes - Lecture 6: Fiscal Policy, Full Employment, Walter Heller

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Ae = aggregate or total expenditures or total planned spending. Ae = c + i + g + xn . Mpc = change in c / change in di. Apc = c / di apc is the average propensity to consume. Mps = marginal propensity to save = 1- mpc or change in s / change in di. Aps = s / di average propensity to save. Total multiplier effect = first round of spending * multiplier. Tax multiplier = 1- multiplier (take absolute value) Gdp gap = full employment output equilibrium output. skip chapter b ns ad graphs fiscal policy math graph video matching. Tis down c is up to less wealthy. Gdpf full employment output fixed pg 233 equilibrium output graph. Ikennedy 1st true keynes policy fiscal policy to to recession fix correct. Gdp e l gdpr i recession or depression.

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