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1. Irkania's aggregate expenditures function is shown in Figure 6.13. 24 000 Y= AE AE 20 000 16 000 Aggregate expenditures 12 000 000 8

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1. Irkania's aggregate expenditures function is shown in Figure 6.13. 24 000 Y= AE AE 20 000 16 000 Aggregate expenditures 12 000 000 8 4 000 4000 8000 12000 16 000 20 000 24 000 28 000 National income a) What is the value of equilibrium income? b) What is the value of the multiplier in Irkania? c) If investment were to increase by $2000, draw in the new AE curve labelled AEz. d) What is the new level of equilibrium income

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