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In an economy Investment is increased by Rs. 300crore. If Marginal Propensity to Consume is 2/3, calculate increase in National Income.

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In an economy Investment is increased by Rs. 300crore. If Marginal Propensity to Consume is 2/3, calculate increase in National Income.

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Detailed Answer :

ΔI = 300crore

MPC = 2/3

MPS = 1 - 2/3 = 1/3

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