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Consider the following information describing an economy withdemand-determined output. There is no government or foreign trade. 1. the equilibrium condition is Y = C +
Consider the following information describing an economy withdemand-determined output. There is no government or foreign trade.
1.
the equilibrium condition is Y=C+I
2.
the marginal propensity to save=0.20
3.
the autonomous part of C is $64
4.
investment is autonomous and equals $45
The equilibrium level of national income is
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