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As an activity, consider a hypothetical economy in which: D = C+/+G+CA C = 10 + 0.6(Y - T) / = 15 G = 30

As an activity, consider a hypothetical economy in which: D = C+/+G+CA C = 10 + 0.6(Y - T) / = 15 G = 30 T = 25 CA = 10E-P*/P - 0.2(Y - T) P = P* =1.0 E = 1.5 What is the equilibrium level of output? Check your answer against the answer key provided

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