Question
Assume an economy has a consumption function of C = 0.87 (Yd) + $693.45. Additionally, this economy has investment spending = $821.61, government purchases =
Assume an economy has a consumption function of C = 0.87 (Yd) + $693.45. Additionally, this economy has investment spending = $821.61, government purchases = $281.54, taxes = $115.71, exports = $158.91, and imports = $212.00. What is the equilibrium level of GDP based on this information? Round your answer to two digits after the decimal.
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Managing in a Global Economy Demystifying International Macroeconomics
Authors: John E. Marthinsen
2nd edition
128505542X, 978-1305176157, 1305176154, 978-1285055428
