Assume we have an economy described by the information below. If the tax rate is reduced from 0.2 to 0, the new equilibrium level of income and production will be $____ (Round your answer to a whole number.) ays Type your response Kays 2 days Y = C + I + G C = 300 + 0.6(Y - T) I = 500 G = 700 T = 800 + .2Y 2 days