Question
Assume an economy has a consumption function of C = 0.84 (Yd) + $635.73. Additionally, this economy has investment spending = $845.84, government purchases =
Assume an economy has a consumption function of C = 0.84 (Yd) + $635.73. Additionally, this economy has investment spending = $845.84, government purchases = $246.38, taxes = $103.31, exports = $197.95, and imports = $297.90. What is the equilibrium level of GDP based on this information? Round your answer to two digits after the decimal.
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
6th Canadian Edition
321675606, 978-0321675606
