What are leakages in the circular flow diagram?  (B) Give example of leakage in a three sector economy

Aggregate Variables Value (in billions of dollars) in the base year Consumption spending $900 Investment spending $400 Government spending $200 Transfer payments $60   The marginal propensity to save is equal to 0.4 and there are no exports or imports,   (a) Calculate the real GDP in this country, Show your work   (b) Calculate the marginal propensity to consume Show your work.   (c) Suppose that the government increases spending from $200 billion to $300 billion   (i) Calculate the maximum change in real GDP. Show your work   (ii) Given the change in real GDP in part (c)(i), calculate the maximum level of the new equilibrium real GDP. Show your work   (d) Suppose that taxes decrease by $100 billion. Will the maximum change in real GDP be larger than, smaller than, or equal to the change in part (c)(i)? Explain.

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Please give me full explanation explanation Note:- Please don't simply copy and paste content from other AI tools or bots, or else I may have to downvote your actions. Do not provide the handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.

Each term (3 months) the current group of economics students completed a questionnaire as to how much they would spend on new purchases compared to how much they would save/pay off bills, if they suddenly and unexpectedly received a check for $1,000. The average MPC is shown in the table below. Month in which student poll was taken Average of students’ responses as MPC March 0.41 June 0.30 September 0.22 December 0.56   What do these MPC’s imply about the students’ thinking over the course of the year?   (Enter response here.)   What is likely happening in the economy during the same period of time?

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4. In the context of simultaneous equations modelling, which of the following statements is TRUE concerning an exogenous variable? (a) The values of exogenous variables are determined within the system (b) The exogenous variables are assumed to be fixed in repeated samples (c) Reduced form equations will not contain any exogenous variables on the RHS (d) Reduced form equations will contain only exogenous variables on the LHS.

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2 96 nts Turning Point (A) (B) (C) (D) (E) 1 The data in the accompanying table give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time. Date Jan 1980 July 1980 July 1981 November 1982 July 1990 The economy experienced an expansion that lasted from Multiple Choice Seved Help Real GDP (2012 $ billions) 6,837.6 6,688.8 6,978.1 6,794.9 9,398.5 Save & Exit Submit