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In a three-sector economy: C = 200 + 0.8Yd T = 0.4Y I = 700 G = 1500 a. Calculate national income when the economy

In a three-sector economy:

C = 200 + 0.8Yd T = 0.4Y I = 700

G = 1500

a. Calculate national income when the economy is at equilibrium. Graph your results.

b. Full employment is achieved when income is 6000. What is the multiplier? How much should government spending increase to achieve full employment? What is the budget at full employment?

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