1. (LO 4) The economy of Irinika has the following parameters: Autonomous exports = $400 million Autonomous...

Question:

1. (LO 4) The economy of Irinika has the following parameters:

Autonomous exports = $400 million Autonomous imports = $100 million MPM = 0.25

a) What is the balance of trade at an income of $800?

b) What is the balance of trade at an income of $2000?

c) At what income level is there a zero balance of trade?

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