1. Assume an economy is represented by the following: C = 240 + 0.6Yd I = 400 G = 2000 T = 2000 a. Calculate the equilib
Posted: Fri Jul 01, 2022 8:13 am
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.
a. Calculate the equilibrium level of output. (3 marks)
b. Calculate the levels of consumption and saving that occurwhen the economy is in equilibrium.