Question
An economy is described by the following set of equations: C = 1000 + 0.9(Y-T) I = 2000 G = 1500 Exports = 1000 Imports
An economy is described by the following set of equations:
C = 1000 + 0.9(Y-T)
I = 2000
G = 1500
Exports = 1000
Imports = 1200
T = 1500
Potential GDP= 31,000
Illustrate this economy in a Keynesian Cross Diagram.
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Managerial Economics A Problem Solving Approach
Authors: Luke M. Froeb, Brian T. McCann, Mikhael Shor, Michael R. War
3rd edition
2901133951482, 1133951481, 978-1133951483
