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Consider a simple closed economy model where Y = C + I + G, consumption is given by the function C = 100 + (2/3)(Y-T),
Consider a simple closed economy model where Y = C + I + G, consumption is given by the function C = 100 + (2/3)(Y-T), investment is I = 50, government purchases are G = 20, and taxes are T = 30. Which of the following is true? Group of answer choices As percentage of equilibrium GDP, the government's budget surplus is 2.8% equilibrium disposable income is 400 autonomous spending is 150 equilibrium income is 470
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