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1. Given: C = 250 + 0.9 Y (1+2+2=5) I = 70 G = 300 TR = 100 1 =0.25 a) Find the equilibrium level

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1. Given: C = 250 + 0.9 Y (1+2+2=5) I = 70 G = 300 TR = 100 1 =0.25 a) Find the equilibrium level of income. b) If TR increases to 150, what will be the change in equilibrium income? c) Draw a graph to show the change in equilibrium income between part a and part b

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