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10. GRONINGEN is an open economy with the following information: Consumption : C = 200 + 0.8 Yd Investment : I = 200 Government Expenditure

10. GRONINGEN is an open economy with the following information:

Consumption

: C = 200 + 0.8 Yd

Investment

: I = 200

Government Expenditure

: G = 150

Tax

: T = 40

Exports

: X = 80

Imports

: M = 30 + 0.2Y

Determine the equilibrium level of national income.

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