Year Median Income Average Income 1972 $37,760 $43,700 2018 $37,800 $58,700 1D. Construct a causal chain starting with income equality to show an effect on the US economy between 1972 and 2018. 1E. Construct a Keynesian Macro Model and make changes to the model consistent with your causal chain.

Year Median Income Average Income 1972 $37,760 $43,700 2018 $37,800 $58,700 1D. Construct a causal chain starting with income equality to show an effect on the US economy between 1972 and 2018. 1E. Construct a Keynesian Macro Model and make changes to the model consistent with your causal chain.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterD: The Expenditure-output Model

Section: Chapter Questions

Problem 24CTQ: Exercise D24 Compare two policies: a tax cut on income or an increase in government spending on...

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Year Median Income Average Income

1972 $37,760 $43,700

2018 $37,800 $58,700

1D. Construct a causal chain starting with income equality to show an effect on the US economy between 1972 and 2018.

1E. Construct a Keynesian Macro Model and make changes to the model consistent with your causal chain.

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