1. Assume an economy is represented by the following: C = 240 + 0.6Yd I = 400 G = 2000 T = 2000 a. Calculate the equilib

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answerhappygod
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1. Assume an economy is represented by the following: C = 240 + 0.6Yd I = 400 G = 2000 T = 2000 a. Calculate the equilib

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1. Assume an economy is represented by the following: C = 240 +0.6Yd I = 400 G = 2000 T = 2000
a. Calculate the equilibrium level of output. (3 marks)
b. Calculate the levels of consumption and saving that occurwhen the economy is in equilibrium.
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