100million is equal to ______________ .
We know that ,
1 million = 0.1crore
Thus, 100 million = 100×0.1 crores
= 10crores.
Suppose in a simple economy with no foreign sector, the MPC is equal to 0.9. How much of a lump sum tax (∆T) would have to be given up to raise output by 100 million?