In an economy, the basic equations are as follows: the consumption function is C = 80 +
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In an economy, the basic equations are as follows: the consumption function is C = 80 + 0.75Y and investment is⎯I = ` 100 crore. Find
(a) Th e equilibrium level of income.
(b) Th e equilibrium level of income when planned investment increases from ` 100 to ` 120 crore, a total increase of ` 20 crore.
(c) Th e multiplier eff ect of the ` 20 crore increase in planned investment.
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