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An economy is described by the following equations: Cd = 1,600 + 0.8( Y - T ) IP = 1000 G = 1,800 X =
- An economy is described by the following equations:
Cd= 1,600 + 0.8(Y-T)
IP= 1000
G= 1,800
X=M =0
T=3,000 +0.01Y
What is the short-run equilibrium level of output in this economy?
Group of answer choices
a)7600.5
b) 7650.4
c) 8420.5
d) 9615.4
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Labor Economics
Authors: George J. Borjas
6th edition
73523208, 2900073523209 , 978-0073523200
