Question
4. Assume the following equations for a macroeconomy: C = 100 + 0.9Yd , I = 50, T = 0.2Y , X=100, M=0.22Y and G
4. Assume the following equations for a macroeconomy:
C = 100 + 0.9Yd , I = 50, T = 0.2Y , X=100, M=0.22Y and G = 250.
a. Calculate the equilibrium level of output, net exports, and total consumption.
b. State whether the economy has a budget surplus/deficit in equilibrium
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The Great Divide Unequal Societies And What We Can Do About Them
Authors: Joseph E Stiglitz
1st Edition
0393352188, 9780393352184
