Question
Assume the following equations for a macroeconomy C = 150 + .8Yd , I = 40, T = 0.2Y , X=120, Im=0.2Yand G = 350.
Assume the following equations for a macroeconomy
C = 150 + .8Yd , I = 40, T = 0.2Y , X=120, Im=0.2Yand G = 350.
( Correct your answers to 2 decimal places)
(A) Calculate the equilibrium level of output
(B)Calculate Net exports, and total consumption.
(C)Calculate total consumption
(D)State whether the economy has a budget surplus/deficit. Find its value.
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International Economics
Authors: Thomas A. Pugel
15th edition
73523178, 978-0077769529, 007776952X, 978-0073523170
