1.1.7 For each of the following sets of data, determine if output will need to increase, decrease,...

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1.1.7 For each of the following sets of data, determine if output will need to increase, decrease, or remain the same to move the economy to equilibrium:

a. Y = 1,000; C = 100 + 0.75(Y- T); I = 200; G = 150; T = 100

b. Y = 5,000; C = 200 + 0.9(Y - T); I = 500; G = 400; T = 300

c. Y = 2,000; C = 150 + 0.5(Y - T); I = 150; G = 150; T = 50

d. Y = 1,600; C = 300 + 0.6(Y - T); I = 250; G = 150; T = 100

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Principles Of Economics

ISBN: 9780802845610

12 Global Edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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